Daiwa Capital Markets Reiterates “Neutral” Rating for XPeng (NYSE:XPEV)

XPeng (NYSE:XPEV)‘s stock had its “neutral” rating reaffirmed by equities researchers at Daiwa Capital Markets in a report issued on Wednesday. They currently have a $24.00 price objective on the stock. Daiwa Capital Markets’ price target would suggest a potential upside of 6.12% from the company’s previous close.

A number of other research analysts have also issued reports on the company. China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a report on Friday, November 22nd. The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a research note on Thursday, November 21st. Nomura raised XPeng from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $30.00 in a research note on Wednesday. Citigroup raised XPeng from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $13.70 to $29.00 in a research note on Monday, March 10th. Finally, UBS Group raised XPeng from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $8.80 to $18.00 in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.07.

XPeng Price Performance

NYSE:XPEV opened at $22.62 on Wednesday. The business’s 50-day moving average price is $17.67 and its 200 day moving average price is $13.79. The firm has a market cap of $21.30 billion, a P/E ratio of -25.99 and a beta of 2.68. XPeng has a 52-week low of $6.55 and a 52-week high of $27.16. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

XPeng (NYSE:XPEV) last released its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. As a group, sell-side analysts predict that XPeng will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On XPeng

A number of institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in XPeng by 5.8% during the 4th 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 period. EverSource Wealth Advisors LLC boosted its position in XPeng by 55.8% during the 4th 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 period. Quadrant Capital Group LLC boosted its position in XPeng by 3.9% during the 4th 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 period. Sequoia Financial Advisors LLC boosted its position in XPeng by 7.7% during the 4th 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 period. Finally, Lindbrook Capital LLC boosted its position in XPeng by 50.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after acquiring an additional 1,138 shares during the period. 21.09% of the stock is currently owned by institutional investors and hedge funds.

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.