Fintel reports that on July 11, 2023, Goldman Sachs initiated coverage of XPeng Inc – ADR (NYSE:XPEV) with a Buy recommendation.

Analyst Price Forecast Suggests 26.62% Downside

As of July 6, 2023, the average one-year price target for XPeng Inc – ADR is 10.38. The forecasts range from a low of 5.05 to a high of $16.80. The average price target represents a decrease of 26.62% from its latest reported closing price of 14.15.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for XPeng Inc – ADR is 46,482MM, an increase of 73.08%. The projected annual non-GAAP EPS is -5.83.

What is the Fund Sentiment?

There are 301 funds or institutions reporting positions in XPeng Inc – ADR. This is a decrease of 115 owner(s) or 27.64% in the last quarter. Average portfolio weight of all funds dedicated to XPEV is 0.39%, a decrease of 20.69%. Total shares owned by institutions decreased in the last three months by 30.77% to 115,055K shares. The put/call ratio of XPEV is 0.48, indicating a bullish outlook.

What are Other Shareholders Doing?

 

FIFTHDELTA holds 12,236K shares representing 1.42% ownership of the company. In it’s prior filing, the firm reported owning 18,569K shares, representing a decrease of 51.76%. The firm decreased its portfolio allocation in XPEV by 32.58% over the last quarter.

Primecap Management holds 12,112K shares representing 1.41% ownership of the company. In it’s prior filing, the firm reported owning 12,055K shares, representing an increase of 0.47%. The firm increased its portfolio allocation in XPEV by 6.96% over the last quarter.

Primavera Capital Management holds 9,920K shares representing 1.15% ownership of the company. No change in the last quarter.

VHCOX – Vanguard Capital Opportunity Fund Investor Shares holds 6,966K shares representing 0.81% ownership of the company. In it’s prior filing, the firm reported owning 6,931K shares, representing an increase of 0.50%. The firm increased its portfolio allocation in XPEV by 4.59% over the last quarter.

Alibaba Group Holding holds 6,650K shares representing 0.77% ownership of the company. No change in the last quarter.

XPeng Background Information
(This description is provided by the company.)

Xpeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, Xpeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture. Xpeng is headquartered in Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley and San Diego. The Company’s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively.

Additional reading:

• XPENG Announces Vehicle Delivery Results for June and Second Quarter 2023
• THE COMPANIES ACT (AS REVISED) OF THE CAYMAN ISLANDS Company Limited by Shares Ninth Amended and Restated Memorandum of Association XPeng Inc. (Adopted by Special Resolution passed on June 20, 2023)
• XPeng Inc. (A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability) (Stock code: 9868) POLL RESULTS OF THE ANNUAL GENERAL MEETING HELD ON JUNE 20, 2023
• XPENG Announces Vehicle Delivery Results for May 2023
• XPENG Reports First Quarter 2023 Unaudited Financial Results

This article originally appeared on Fintel

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