XPeng (NYSE:XPEV) Price Target Raised to $14.00

XPeng (NYSE:XPEV) had its price target boosted by Sanford C. Bernstein from $9.00 to $14.00 in a report issued on Wednesday,Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the stock.

A number of other brokerages have also recently commented on XPEV. Citigroup dropped their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research note on Wednesday. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Bank of America decreased their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.20.

XPeng Stock Performance

Shares of XPeng stock opened at $12.64 on Wednesday. The firm has a fifty day moving average price of $11.68 and a 200 day moving average price of $9.24. XPeng has a 1 year low of $6.55 and a 1 year high of $18.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31.

XPeng (NYSE:XPEV) last issued its earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. The company had revenue of $1.12 billion during the quarter. XPeng had a negative return on equity of 16.63% and a negative net margin of 15.35%. Equities research analysts anticipate that XPeng will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of XPeng

Several institutional investors have recently modified their holdings of XPEV. Natixis acquired a new position in XPeng in the 1st quarter valued at $38,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of XPeng by 122.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after buying an additional 2,920 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of XPeng in the third quarter worth about $45,000. Blue Trust Inc. boosted its position in XPeng by 2,615.9% during the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after acquiring an additional 9,391 shares during the last quarter. Finally, 180 Wealth Advisors LLC purchased a new stake in XPeng during the 2nd quarter valued at about $78,000. Institutional investors and hedge funds own 23.05% of the company’s stock.

About XPeng

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.