XPeng (NYSE:XPEV) Given New $35.00 Price Target at JPMorgan Chase & Co.

XPeng (NYSE:XPEVGet Rating) had its price objective cut by JPMorgan Chase & Co. from $42.00 to $35.00 in a research report report published on Tuesday, The Fly reports.

Several other equities research analysts have also recently commented on XPEV. Citigroup decreased their target price on XPeng from $92.00 to $67.00 and set a buy rating for the company in a research note on Tuesday, March 29th. Zacks Investment Research raised XPeng from a sell rating to a hold rating in a research report on Tuesday, March 29th. Morgan Stanley decreased their target price on XPeng from $71.00 to $42.00 and set an overweight rating for the company in a research report on Wednesday, March 23rd. Barclays decreased their target price on XPeng from $39.00 to $30.00 and set an overweight rating for the company in a research report on Tuesday. Finally, HSBC began coverage on XPeng in a research report on Friday, April 1st. They issued a buy rating and a $37.00 price target for the company. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, XPeng has a consensus rating of Buy and a consensus target price of $45.26.

NYSE:XPEV opened at $22.50 on Tuesday. The stock has a fifty day moving average price of $25.28 and a 200-day moving average price of $35.69. The company has a market cap of $18.08 billion, a price-to-earnings ratio of -24.73 and a beta of 5.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.56 and a current ratio of 2.71. XPeng has a fifty-two week low of $18.01 and a fifty-two week high of $56.45.

XPeng (NYSE:XPEVGet Rating) last issued its earnings results on Monday, March 28th. The company reported ($0.24) earnings per share (EPS) for the quarter. XPeng had a negative return on equity of 12.83% and a negative net margin of 23.12%. The firm had revenue of $1.34 billion during the quarter. During the same period in the previous year, the firm posted ($0.16) earnings per share. Research analysts predict that XPeng will post -1.3 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of XPEV. BlackRock Inc. grew its position in shares of XPeng by 3.2% during the first quarter. BlackRock Inc. now owns 20,215,942 shares of the company’s stock valued at $557,756,000 after purchasing an additional 619,993 shares in the last quarter. Vanguard Group Inc. lifted its stake in XPeng by 2.7% in the first quarter. Vanguard Group Inc. now owns 17,912,069 shares of the company’s stock worth $494,193,000 after purchasing an additional 471,143 shares during the last quarter. Capital World Investors lifted its stake in XPeng by 22.6% in the third quarter. Capital World Investors now owns 16,300,752 shares of the company’s stock worth $579,329,000 after purchasing an additional 3,000,154 shares during the last quarter. Tiger Global Management LLC lifted its stake in 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 last quarter. Finally, Aspex Management HK Ltd lifted its stake in XPeng by 9.1% in the first quarter. Aspex Management HK Ltd now owns 9,582,275 shares of the company’s stock worth $264,375,000 after purchasing an additional 800,000 shares during the last quarter. Institutional investors and hedge funds own 27.01% of the company’s stock.

About XPeng (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 name; and four-door sports sedan under the P7 name. The company also provides sales contract, maintenance, super charging, vehicle leasing, and ride-hailing services.

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