Research analysts at Macquarie initiated coverage on shares of XPeng (NYSE:XPEV – Get Free Report) in a research note issued on Monday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $7.00 price target on the stock. Macquarie’s price target suggests a potential downside of 1.96% from the stock’s current price.
Separately, JPMorgan Chase & Co. lowered their target price on XPeng from $19.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, XPeng has an average rating of “Hold” and a consensus price target of $17.48.
View Our Latest Research Report on XPEV
XPeng Price Performance
XPeng (NYSE:XPEV – Get Free Report) last issued its earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share for the quarter. XPeng had a negative return on equity of 31.17% and a negative net margin of 33.77%. The business had revenue of $1.84 billion for the quarter. Analysts anticipate that XPeng will post -1.25 earnings per share for the current fiscal year.
Institutional Investors Weigh In On XPeng
Several institutional investors and hedge funds have recently modified their holdings of XPEV. Carolinas Wealth Consulting LLC lifted its stake in shares of XPeng by 12.5% in the first quarter. Carolinas Wealth Consulting LLC now owns 4,500 shares of the company’s stock worth $124,000 after acquiring an additional 500 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of XPeng by 8.6% in the third quarter. Rhumbline Advisers now owns 9,005 shares of the company’s stock worth $165,000 after acquiring an additional 710 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of XPeng by 7.1% in the third quarter. PNC Financial Services Group Inc. now owns 11,066 shares of the company’s stock worth $203,000 after acquiring an additional 732 shares in the last quarter. US Bancorp DE lifted its stake in shares of XPeng by 13.9% in the first quarter. US Bancorp DE now owns 6,271 shares of the company’s stock worth $173,000 after acquiring an additional 767 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of XPeng by 33.0% in the third quarter. Lindbrook Capital LLC now owns 3,149 shares of the company’s stock worth $58,000 after acquiring an additional 781 shares in the last quarter. Hedge funds and other institutional investors own 23.05% of the company’s stock.
About XPeng
XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.
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