Is XPeng the Best Up and Coming EV Stock?
XPeng takes the 10th spot on our list of best up-and-coming stocks to buy now. However, it is the only electric vehicle manufacturer on our list.
16 hedge funds held stakes in XPeng in the first quarter, with positions worth USD194.903 million. Of those, Millennium Management was the top shareholder of the company. The firm increased its stake in the company by 578% to 10.7 million shares worth USD82.178 million in the first quarter.
Year-over-Year Revenue Growth in FQ3 2023: 25%
Year-over-Year Revenue Growth in FQ4 2023: 154%
Year-over-Year Revenue Growth in FQ1 2024: 62.3%
Number of Hedge Fund Holders: 16
On May 21, XPeng reported Q1 earnings. The non-GAAP EPADS topped the estimates by USD0.03 at -USD0.21. The revenue beat the estimates by USD60.08 million at USD910 million and grew by 62.3% year-over-year. XPeng also provided Q2 2024 outlook in which it projects substantial delivery and revenue growth and expects delivery volumes of 29,000 to 32,000 units and total revenue ranging from RMB 7.5 billion to RMB 8.3 billion (RMB 1 = USD0.14 as of May 30). This optimistic outlook reflects the company's confidence in achieving significant breakthroughs in sales volume, margins, and cash flow, driven by their ongoing strategic and organizational transformations.
With RMB 41.4 billion in cash as of the end of Q1 2024, XPeng has a strong financial foundation. This liquidity allows the company to invest in strategic initiatives, ensuring long-term growth and stability. The company plans to invest in advanced driver-assistance systems (ADAS) and smart EV platforms to ensure it stays ahead in its respective market. Moreover, the company aims to expand its international footprint significantly by expanding overseas sales networks to over 20 countries, with strategic partnerships in Western Europe, Southeast Asia, the Middle East, and Australia.
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MonkeyGee : Xpeng is so good that they are afraid of opening the market in the USA for xpeng. It would probably wipeout Tesla. Like what Toyota did to Ford.
bullrider_21 OP MonkeyGee : They're afraid of China EVs which are superior yet cheaper. So they will be slapping 100% tariffs.
MonkeyGee : yeah, the tariff is good. make china pay the tariff. (ppl you know that is not true, right?) For those of you who are denser than a rock. The foreign country DO NOT pay the tariffs. The importer (USA) pays the tariff. To make it simple, instead of you getting the discount, Uncle Sam gets the discount, and you pay the inflated price.