Citigroup cuts its price target on XPeng (NYSE:XPEV) to $7.60

VaselineAugust 23, 2024

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XPeng (NYSE:XPEV – Get a Free Report) The price target was lowered by equities research analysts at Citigroup from $8.30 to $7.60 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 9.51% from the stock’s current price.

XPEV has been the subject of a number of other research reports. Bank of America cut their price target on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday. Daiwa Capital Markets upgraded shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Thursday, May 23rd. JPMorgan Chase & Co. cut their price target on shares of XPeng from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Daiwa America upgraded shares of XPeng to a “strong-buy” rating in a research note on Thursday, May 23rd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. XPeng has an average rating of “Moderate Buy” and an average price target of $11.50, according to MarketBeat.

Check out our latest research report on XPEV

Performance of XPeng actions

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Shares of XPEV stock opened at $6.94 on Wednesday. The firm has a market cap of $6.54 billion, a PE ratio of -4.69 and a beta of 2.76. The firm has a fifty day simple moving average of $7.72 and a two hundred day simple moving average of $8.18. The company has a current ratio of 1.50, a quick ratio of 1.32, and a debt-to-equity ratio of 0.18. XPeng has a 12-month low of $6.55 and a 12-month high of $19.96.

XPeng (NYSE:XPEV – Get Your Free Report ) last announced its quarterly earnings results on Tuesday, May 21st. The company reported ($0.20) EPS for the quarter. The business had revenue of $906.90 million for the quarter. XPeng had a negative net margin of 28.16% and a negative return on equity of 28.16%. Analysts forecast that XPeng will post -0.91 EPS for the current fiscal year.

Hedge funds influence XPeng

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in XPeng during the fourth quarter valued at approximately $41,993,000. RWC Asset Advisors US LLC raised its holdings in XPeng by 170.3% during the fourth quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company’s stock valued at $64,698,000 after buying an additional 2,793,550 shares in the last quarter. Bank of Montreal Can grew its holdings in XPeng by 212.1% during the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after buying an additional 2,724,549 shares in the last quarter. Electron Capital Partners LLC purchased a new stake in XPeng in the fourth quarter valued at approximately $26,047,000. Finally, Primecap Management Co. CA boosted its holdings in XPeng by 5.6% during the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after purchasing an additional 872,160 shares during the last quarter. 23.05% of the shares are owned by hedge funds and other institutional investors.

XPeng Company Profile

(Get a free report)

XPeng Inc designs, develops, manufactures and markets smart electric vehicles (EVs) in the People’s Republic of China. It offers SUVs under the names G3, G3i and G9; four-door sports sedans under the names P7 and P7i; and family sedans under the name P5. The company also offers sales contracts, top-up, maintenance, technical support, car financing, insurance, tech support, ride-hailing, car loan referral and other services, as well as vehicle leasing and insurance agency services.