Barclays Lowers XPENG (NYSE:XPEV) Price Target to $16.00

Key Points

• Barclays cut its price target on XPENG from $17 to $16 and kept an "underweight" rating, implying about a 15.46% downside from the stock's current price.
• XPENG recently beat quarterly estimates with $0.06 EPS (vs. -$0.01 expected) and $3.18B revenue (vs. $3.10B), but the company remains unprofitable with negative margins and analysts forecast about -0.96 EPS for the year.
• Analyst views are mixed: ratings span from Strong Buy to Sell, with a consensus rating of "Hold" and a consensus price target of $24.74, well above Barclays' view.

XPENG (NYSE:XPEV - Get Free Report) had its target price dropped by analysts at Barclays from $17.00 to $16.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Barclays's price objective would indicate a potential downside of 15.46% from the stock's current price.

XPEV has been the topic of several other reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of XPENG in a research report on Wednesday, January 21st. Morgan Stanley reaffirmed a "reduce" rating on shares of XPENG in a research note on Monday, December 29th. Loop Capital set a $25.00 target price on shares of XPENG in a report on Tuesday, January 6th. Citigroup reissued a "buy" rating on shares of XPENG in a report on Friday, February 6th. Finally, Macquarie Infrastructure set a $26.00 price target on shares of XPENG and gave the company an "outperform" rating in a research report on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, XPENG currently has a consensus rating of "Hold" and a consensus price target of $24.74.

XPENG Stock Up 0.3%

XPEV traded up $0.06 during mid-day trading on Tuesday, reaching $18.93. 1,398,437 shares of the stock were exchanged, compared to its average volume of 6,831,560. The company has a 50 day moving average price of $18.44 and a two-hundred day moving average price of $20.43. The stock has a market capitalization of $17.96 billion, a PE ratio of -111.43 and a beta of 1.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.12. XPENG has a 1 year low of $15.38 and a 1 year high of $28.24.

XPENG (NYSE:XPEV - Get Free Report) last announced its earnings results on Friday, March 20th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.07. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.10 billion. XPENG had a negative return on equity of 3.71% and a negative net margin of 1.46%. As a group, research analysts anticipate that XPENG will post -0.96 EPS for the current year.

Institutional Trading of XPENG

A number of hedge funds have recently bought and sold shares of XPEV. Farther Finance Advisors LLC increased its stake in shares of XPENG by 161.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,562 shares of the company's stock worth $52,000 after buying an additional 1,582 shares during the period. EverSource Wealth Advisors LLC boosted its position in XPENG by 16.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company's stock valued at $63,000 after buying an additional 389 shares during the period. Kickstand Ventures LLC. purchased a new stake in XPENG during the 4th quarter valued at $202,000. Parallel Advisors LLC grew its holdings in XPENG by 6.0% in the 4th quarter. Parallel Advisors LLC now owns 10,293 shares of the company's stock worth $209,000 after acquiring an additional 584 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of XPENG in the third quarter valued at about $249,000. Institutional investors own 21.09% of the company's stock.

XPENG Company Profile

XPENG Inc NYSE: XPEV is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.

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