Nomura Securities Upgrades XPeng (NYSE:XPEV) to Strong-Buy

XPeng (NYSE:XPEV) was upgraded by stock analysts at Nomura Securities to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on XPEV. Bank of America boosted their price objective on XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group lowered XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research report on Thursday, November 21st. Nomura upgraded XPeng from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $30.00 in a research report on Wednesday. Macquarie reiterated a “neutral” rating and set a $18.00 price target on shares of XPeng in a research report on Friday, February 7th. Finally, Daiwa Capital Markets reiterated a “neutral” rating and set a $24.00 price target on shares of XPeng in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.02.

XPeng Price Performance

Shares of NYSE XPEV opened at $23.80 on Tuesday. XPeng has a twelve month low of $6.55 and a twelve month high of $27.16. The company has a market capitalization of $22.42 billion, a price-to-earnings ratio of -27.35 and a beta of 2.68. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The business has a 50 day simple moving average of $17.90 and a 200-day simple moving average of $13.86.

XPeng (NYSE:XPEV) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating 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%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $16.11 billion. As a group, equities research analysts expect that XPeng will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

Institutional investors and hedge funds have recently modified their holdings of the stock. Alibaba Group Holding Ltd increased its position in XPeng by 21.2% in the 4th quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock worth $448,678,000 after purchasing an additional 6,650,000 shares during the last quarter. TMT General Partner Ltd acquired a new position in XPeng in the 4th quarter worth about $205,501,000. JPMorgan Chase & Co. increased its position in XPeng by 1,138.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock worth $54,354,000 after purchasing an additional 4,227,055 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of XPeng during the 3rd quarter worth about $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of XPeng by 947.5% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock worth $20,800,000 after acquiring an additional 1,591,750 shares in 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.