XPeng (NYSE:XPEV) Raised to Buy at The Goldman Sachs Group

XPeng (NYSE:XPEV) was upgraded by The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $24.00 price target on the stock, up from their prior price target of $16.40. The Goldman Sachs Group’s price target indicates a potential upside of 28.80% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Sanford C. Bernstein set a $19.00 target price on shares of XPeng and gave the company a “market perform” rating in a research report on Thursday, May 22nd. Morgan Stanley set a $28.00 target price on shares of XPeng and gave the company an “overweight” rating in a research report on Thursday, June 12th. Citigroup upgraded shares of XPeng from a “neutral” rating to a “buy” rating and increased their target price for the company from $13.70 to $29.00 in a research report on Monday, March 10th. Nomura raised shares of XPeng from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $30.00 in a report on Wednesday, March 19th. Finally, UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and upped their price target for the company from $8.80 to $18.00 in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, XPeng has an average rating of “Moderate Buy” and a consensus target price of $23.73.

XPeng Stock Up 0.3%

XPeng stock opened at $18.63 on Tuesday. The company has a 50-day simple moving average of $19.68 and a 200-day simple moving average of $17.70. The firm has a market capitalization of $17.68 billion, a P/E ratio of -24.85 and a beta of 2.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.07 and a current ratio of 1.21. XPeng has a one year low of $6.60 and a one year high of $27.16.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in XPEV. Farther Finance Advisors LLC boosted its holdings in shares of XPeng by 70.1% in the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company’s stock worth $27,000 after buying an additional 532 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after buying an additional 898 shares during the period. Atlas Capital Advisors Inc. boosted its holdings in shares of XPeng by 651.0% in the first quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company’s stock worth $31,000 after buying an additional 1,302 shares during the period. Garde Capital Inc. acquired a new position in shares of XPeng in the first quarter worth about $39,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of XPeng by 50.7% in the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after buying 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.