XPeng (NYSE:XPEV) (HK:9868) shares are rallying today after the Chinese EV maker’s fourth-quarter top line jumped by nearly 154% year-over-year to $1.84 billion. Additionally, its net loss per American Depository Share (EPADS) of $0.28 came in narrower than estimates by a wide margin of $0.13.
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XPeng delivered a total of 60,158 vehicles in Q4, clocking a nearly 171% growth over the prior year period. Its revenue from vehicle sales for the quarter rose by 162.3% year-over-year to $1.72 billion. Concurrently, the company notched sequential margin gains in Q4. Gross margin improved to 6.2% from -2.7% in Q3. Similarly, its vehicle margin improved to 4.1% from -6.1% in Q3.
XPeng had a cash pile of $6.44 billion at the end of Q4. The company plans to introduce 10 new models over the next three years. It also aims to expand into more international markets. For the upcoming quarter, XPeng anticipates vehicle deliveries in the 21,000 to 22,500 range. Total revenue is foreseen in the range of RMB 5.8 billion to RMB 6.2 billion.
What Is the Target Price for XPEV Stock?
Today’s price gains come after a nearly 33% year-to-date decline in XPeng’s share price. Overall, the Street has a Moderate Buy consensus rating on XPeng alongside an average XPEV price target of $12.75. However, analysts’ views on XPeng could see a revision following today’s earnings report.
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