Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.
We surveyed a group of over 300 investors on whether Xpeng's (NYSE: XPEV) stock will reach $100 by 2022 and 62% of readers think it will. Xpeng trades at $46.80 at time of publication, off the 52-week low of $17
XPeng Stock Forecast
Xpeng is one of China’s leading smart electric vehicles, or Smart EV, companies. The company was founded in 2015 with a vision to bring Smart EVs to Chinese consumers through innovation in autonomous driving, smart connectivity and core vehicle systems.
Xpeng EVs are crafted with the intent of appealing to the large and growing base of technology-savvy middle-class consumers in China. The company primarily targets the mid- to high-end segment in China’s passenger vehicle market, with prices ranging from $23,000 to $45,000.
Xpeng says consumers choose its products primarily because of attractive design, smart mobility experience, advanced technology and compelling value proposition. As of June 30, over 90% of Xpeng’s G3 purchasers chose the versions with autonomous driving capabilities.
Respondents to our survey cited China as being the biggest market in the world, the EV industry still being in its infancy and a belief the Chinese government will quicken the transition to EVs as reasons XPeng will reach $100 per share by end of next year.
“Xpeng continues to meet and exceed production goals and appear to have great expense control," said one reader. "They turned an acceptable profit in their first quarter as a public company at a level of production they claim will grow. Given production and expense goals are met, I believe profits will continue to grow, and the stock price should reflect it."
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This survey was conducted by Benzinga in December 2020 and included the responses of a diverse population of adults 18 or older.
Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 300 adults.
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