Will Nio's Stock Reach $100 By 2022?
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 shares of Nio Inc (NYSE:NIO) will reach $100 by 2022.
Nio Stock Forecast
In the near-term, the Shanghai-based EV maker Nio continues to garner investor’s attention given marked earnings growth.
Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence.
Rounding out 2020 earnings, Nio on Nov. 17 reported above-consensus third-quarter results, thanks to strong deliveries and margin improvement.
Revenues climbed 146.4% year-over-year and 21.7% sequentially $666.6 million. This compares to the year-ago revenue of $262.47 million. The company also issued a strong fourth-quarter outlook.
Nio trades at $46.56 at publication time, off the 52-week low of $2.11.
Overwhelmingly, 76.5% of Benzinga traders and investors said Nio would indeed reach $100 per share by 2022.
Our study revealed investors saying the EV sector will explode in 2021, Nio could emerge as a leader in the sector.
Among traders and investors who believe Nio stock will reach $100 in the next year, one respondent said, "Nio has great technology in place with their extensive battery charging and power swap facility network. New EV models have been reported and are being introduced. When they start selling to Europe and the USA, they will be over $200."
Benzinga has been breaking actionable financial news and curating high-quality financial data sets since 2009. Learn more today about receiving stock and market data through APIs.
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.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.