Stock analysts expect Pinduoduo Inc. (NASDAQ:PDD – Get a rating) to report sales of $3.45 billion for the current fiscal quarter, according to Zacks. Two analysts provided earnings estimates for Pinduoduo, with the highest sales estimate at $3.52 billion and the lowest estimate at $3.37 billion. Pinduoduo recorded sales of $3.38 billion in the same quarter last year, suggesting a positive growth rate of 2.1% year-over-year. The company is expected to announce its next quarterly earnings report on Monday, January 1.
On average, analysts expect Pinduoduo to record annual revenue of $18.91 billion for the current fiscal year, with estimates ranging from $16.69 billion to $22.55 billion. dollars. For the next fiscal year, analysts expect the company to post sales of $24.78 billion, with estimates ranging from $19.03 billion to $32.62 billion. Zacks Investment Research sales averages are an average average based on a survey of analysts who provide coverage for Pinduoduo.
Pinduoduo (NASDAQ:PDD – Get a rating) last released its quarterly earnings data on Monday, March 21. The company reported EPS of $0.92 for the quarter, beating the consensus estimate of $0.20 by $0.72. The company posted revenue of $4.27 billion in the quarter, versus analyst estimates of $4.74 billion. Pinduoduo achieved a net margin of 8.40% and a return on equity of 15.76%. In the same quarter last year, the company posted EPS of ($0.17).
Several brokerages have recently commented on PDD. Benchmark reduced its price target on Pinduoduo from $156.00 to $85.00 in a research report on Tuesday, March 22. Barclays lowered its price target on Pinduoduo from $71.00 to $41.00 in a research report on Wednesday, March 23. Nomura Instinet reaffirmed a “neutral” rating and published a target price of $48.00 (vs. $95.00) on Pinduoduo shares in a research report on Tuesday, March 22. Zacks Investment Research downgraded Pinduoduo shares from a “hold” to a “sell” rating in a Wednesday, March 23 research report. Finally, UBS Group upgraded Pinduoduo shares from a “neutral” rating to a “buy” rating in a Wednesday, March 23 research report. Two research analysts gave the stock a sell rating, four gave the stock a hold rating and eight gave the stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.42.
A number of institutional investors have recently changed their positions in the stock. Baillie Gifford & Co. increased its stake in Pinduoduo shares by 5.9% in the fourth quarter. Baillie Gifford & Co. now owns 29,101,766 shares of the company valued at $1,696,633,000 after purchasing an additional 1,613,256 shares last quarter. BlackRock Inc. increased its holdings in Pinduoduo by 2.2% during the fourth quarter. BlackRock Inc. now owns 20,304,002 shares of the company worth $1,183,724,000 after purchasing an additional 432,696 shares last quarter. Krane Funds Advisors LLC increased its position in Pinduoduo shares by 131.6% during the third quarter. Krane Funds Advisors LLC now owns 5,901,628 shares of the company worth $535,101,000 after acquiring 3,353,823 additional shares in the last quarter. Norges Bank bought a new position in Pinduoduo in Q4 worth $266,519,000. Finally, Anatole Investment Management Ltd increased its position in Pinduoduo by 8.7% in the 4th quarter. Anatole Investment Management Ltd now owns 3,662,977 shares of the company valued at $213,552,000 after purchasing an additional 294,057 shares in the last quarter. Hedge funds and other institutional investors hold 21.84% of the company’s shares.
NASDAQ PDD shares opened at $35.56 on Wednesday. The company’s fifty-day moving average price is $40.59 and its 200-day moving average price is $57.07. The stock has a market capitalization of $44.05 billion, a PE ratio of 43.37 and a beta of 1.19. The company has a debt ratio of 0.16, a current ratio of 1.72 and a quick ratio of 1.72. Pinduoduo has a one-year low of $23.21 and a one-year high of $143.11.
About Pinduoduo (Get a rating)
Pinduoduo Inc, through its subsidiaries, operates an e-commerce platform in the People’s Republic of China. It operates Pinduoduo, a mobile platform that offers a range of products, including clothing, footwear, bags, mother and child products, food and beverages, fresh produce, electronics, furniture and household items, cosmetics and other personal care items, sporting and fitness items, and automotive accessories.
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