What's Going On With XPeng Stock?

XPeng Inc. XPEV shares are trading higher Thursday after the company reported April delivery figures Wednesday. Here's a look at what's going on. 

What To Know:

XPeng delivered 9,393 EVs in April, representing a 33% increase year-over-year, up 4% over the prior month. The company highlighted 1,959 X9 vehicles in April, with cumulative deliveries nearing 10,000 units since its launch.

Year-to-date, XPeng has delivered 31,214 EVs, a 23% increase year-over-year.

Xpeng CEO He Xiaopeng responded to the approval of Tesla Inc.'s TSLA full self-driving (FSD) driver assistance software to China in a post on LinkedIn Monday. 

"I genuinely welcome this development with open arms," Xiaopeng posted. "The next decade is set to be an era for ‘Smart EVs', largely propelled by the implementation of AI large models."

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Will XPEV Stock Go Up?

When trying to assess whether or not XPeng XPEV will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $11.33 on XPeng. The Street high target is currently at $18 and the Street low target is $7. Of all the analysts covering XPeng, one has a positive rating, 2 have neutral ratings and no one has negative ratings.

In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering XPeng have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. XPeng is 10.3% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about XPeng, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

XPEV Price Action: According to Benzinga Pro, XPeng shares are up 16.6% at $9.47 at the time of publication Thursday. 

Image: Koshiro K from Shutterstock