Citigroup Boosts XPeng (NYSE:XPEV) Price Target to $51.59

XPeng (NYSE:XPEV – Get Rating) had its target price increased by Citigroup from $36.70 to $51.59 in a research note released on Tuesday morning, The Fly reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on XPEV. HSBC started coverage on XPeng in a report on Friday, April 1st. They issued a buy rating and a $37.00 price objective for the company. CLSA initiated coverage on shares of XPeng in a research note on Wednesday, March 23rd. They issued a buy rating and a $42.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of XPeng from $42.00 to $35.00 in a research note on Tuesday, May 24th. Bank of America reduced their price objective on shares of XPeng from $46.00 to $40.00 and set a buy rating on the stock in a research note on Tuesday, May 24th. Finally, Barclays dropped their target price on shares of XPeng from $39.00 to $30.00 and set an overweight rating on the stock in a report on Tuesday, May 24th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, XPeng presently has an average rating of Buy and a consensus price target of $43.97.

XPEV stock opened at $32.97 on Tuesday. The firm has a market cap of $26.49 billion, a P/E ratio of -30.53 and a beta of 5.41. XPeng has a 1-year low of $18.01 and a 1-year high of $56.45. The business’s 50 day moving average is $24.48 and its 200-day moving average is $32.53. The company has a current ratio of 2.29, a quick ratio of 2.11 and a debt-to-equity ratio of 0.09.

XPeng (NYSE:XPEV – Get Rating) last posted its quarterly earnings data on Monday, March 28th. The company reported ($0.24) earnings per share (EPS) for the quarter. The firm had revenue of $1.34 billion for the quarter. XPeng had a negative return on equity of 14.59% and a negative net margin of 22.63%. During the same quarter last year, the company posted ($0.16) earnings per share. Sell-side analysts forecast that XPeng will post -1.42 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Tiger Global Management LLC boosted its position in shares of XPeng by 120.3% in the first quarter. Tiger Global Management LLC now owns 13,724,477 shares of the company’s stock worth $378,658,000 after purchasing an additional 7,495,477 shares during the period. Norges Bank bought a new position in XPeng during the fourth quarter valued at $241,853,000. Primecap Management Co. CA grew its holdings in shares of XPeng by 27.1% in the first quarter. Primecap Management Co. CA now owns 8,601,777 shares of the company’s stock worth $237,323,000 after purchasing an additional 1,834,290 shares during the last quarter. Anatole Investment Management Ltd bought a new position in XPeng during the 4th quarter worth about $84,549,000. Finally, Point72 Hong Kong Ltd lifted its position in shares of XPeng by 1,270.8% during the fourth quarter. Point72 Hong Kong Ltd now owns 1,806,269 shares of the company’s stock valued at $90,910,000 after buying an additional 1,674,504 shares during the last quarter. Hedge funds and other institutional investors own 27.01% of the company’s stock.

XPeng Company Profile (Get Rating)

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

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