XPeng (NYSE:XPEV) Stock Rating Upgraded by The Goldman Sachs Group

XPeng (NYSE:XPEV) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has a $24.00 target price on the stock, up from their previous target price of $16.40. The Goldman Sachs Group’s price objective would indicate a potential upside of 28.80% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Daiwa Capital Markets reissued a “neutral” rating and set a $24.00 target price on shares of XPeng in a research report on Wednesday, March 19th. JPMorgan Chase & Co. reduced their target price on shares of XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 19th. Sanford C. Bernstein set a $19.00 target price on shares of XPeng and gave the stock a “market perform” rating in a research report on Thursday, May 22nd. Nomura raised shares of XPeng from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $30.00 in a research report on Wednesday, March 19th. Finally, Barclays boosted their target price on shares of XPeng from $7.00 to $20.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.73.

XPeng Trading Up 0.3%

Shares of XPEV stock opened at $18.63 on Tuesday. The stock has a market cap of $17.68 billion, a price-to-earnings ratio of -24.85 and a beta of 2.58. The company has a quick ratio of 1.07, a current ratio of 1.21 and a debt-to-equity ratio of 0.34. XPeng has a fifty-two week low of $6.60 and a fifty-two week high of $27.16. The firm’s 50 day moving average price is $19.68 and its two-hundred day moving average price is $17.70.

XPeng (NYSE:XPEV) last announced its quarterly earnings results on Wednesday, May 21st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.51) by $1.41. XPeng had a negative net margin of 10.20% and a negative return on equity of 15.89%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $15.80 billion. On average, analysts anticipate that XPeng will post -0.96 EPS for the current year.

Institutional Trading of XPeng

A number of institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its holdings in shares of XPeng by 70.1% during the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company’s stock worth $27,000 after purchasing an additional 532 shares during the period. PNC Financial Services Group Inc. grew its position in shares of XPeng by 5.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,044 shares of the company’s stock worth $154,000 after acquiring an additional 716 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of XPeng by 55.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after acquiring an additional 898 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of XPeng by 3.9% during the fourth quarter. Quadrant Capital Group LLC now owns 24,192 shares of the company’s stock worth $286,000 after acquiring an additional 913 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of XPeng by 7.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 14,386 shares of the company’s stock worth $170,000 after acquiring an additional 1,027 shares during the last quarter. 21.09% of the stock is owned by institutional investors and hedge funds.

XPeng Company Profile

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EVs) in the People's Republic of China. It offers SUVs under the G3, G3i, and G9 names; four-door sports sedans under the P7 and P7i names; and family sedans under the P5 name. The company also provides sales contracts, super charging, maintenance, technical support, auto financing, insurance, technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.