XPeng Stock Price and Forecast: XPEV targets $75

  • XPeng puts in a strong session on Wednesday up 8%.
  • XPEV stock rises for three straight sessions.
  • XPEV breaks out on strong earnings forecast.

XPeng shares rose strongly for the third straight session on Wednesday as the Chinese electric vehicle manufacturer said it has its sights on the global deliveries for its new SUV – the G9. XPeng also released a strong set of results this week, which helped boost sentiment further. The stock has now put in three straight days of gains as it breaks out of a long term range. We have highlighted this in our chart analysis below.

Xpeng (XPEV) stock news

XPEV released earnings on Wednesday, and the numbers were good. While earnings per share (EPS) missed expectations, $0.09 versus $0.27, revenue came in well ahead at $847.4 million versus the average forecast of $791.1 million.

XPeng also raised guidance for Q4. Revenue guidance for Q4 is now at $1.1 to $1.7 billion, while analysts had been forecasting Q4 revenue at $904 million. XPeng expects to deliver 35,500 vehicles in Q4 at the midpoint of the guided range from the company. This would be a strong gain of nearly 200% yearly and in keeping with October;s yearly growth rate of 230% in terms of delivery numbers.

While delivery numbers are rising to record levels and growing strongly, XPeng is also growing its margin, meaning more profit per vehicle sold. Gross margins increased in Q3 to 14%, an increase of two percentage points from Q2 and a huge improvement from a year ago. Increasing margin should flow through to the bottom line. 

XPeng (XPEV) Chairman Brian Gu was on CNBC on Wednesday and outlined ambitious plans for the company. He said XPeng wants half of all its deliveries to be outside of China with Sweden, Denmark and Holland to see XPeng vehicles from next year. The Nordic countries are often cited as important for EV manufacturers due to their high consumer adoption of electric vehicles. XPeng already delivers to Norway. China though remains the largest market for electric vehicles. “As a company that focuses on global opportunities, we want to be balanced with our contribution of delivery — half from China, half from outside China — in the long run,” Gu said in an exclusive interview with CNBC’s Arjun Kharpal.

XPeng (XPEV) stock forecast

The long-term consolidation phase has now been firmly broken out of as is clear from the weekly chart. This gives us the first target at $60 and then highs above $70.

The daily chart gives another view of the breakout, which is now key support, at $45. Holding above here means more gains are likely, and the risk reward favours longs in our view. We also have a second consolidation and breakout phase with a top at $50. That is the short-tem support to hold, while $45 is the medium term level.

XPEV has now broken into a lower volume range so gains should be easier to achieve. Any retracement to the larger consolidation phase below $45 will ikely see a move to $38, which is the 200-day moving average. This would be an expected support point, but we would reassess when or if XPEV stock got back there. For now the trend is bullish with the two key supports as mentioned. $60 is the first target.

XPEV 1-day chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD retreats below 1.1300 area as NFP-inspired dollar weakness fades

EUR/USD jumped to a daily high of 1.1333 with the initial market reaction to the disappointing November Nonfarm Payrolls data but quickly returned below 1.1300. Rising US Treasury bond yields seem to be helping the dollar stay resilient against its major rivals. 


GBP/USDdrops to 1.3250 area as dollar regains strength

GBP/USD spiked above 1.3300 in the early American session with the initial market reaction to the gloomy US November jobs report. However, the greenback regathered strength on hawkish Fed commentary and forced the pair to turn south.


Gold struggles to capitalize on weak NFP data, holds near $1,770

Gold spiked to a daily high near $1,780 with the initial market reaction to the disappointing Nonfarm Payrolls data from the US but seems to be having a difficult time preserving its bullish momentum with the 10-year US T-bond yield staying resilient.

Gold News

The bull and the bear case for BTC

Bitcoin price saw a bullish impulse that faced massive headwinds before it tagged a crucial psychological barrier. Bitcoin is likely to experience massive volatility as the situation resolves over time. 

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!