Pinduoduo Inc. Expected to Announce Quarterly Sales of $3.45 Billion

Wall Street brokerages expect Pinduoduo Inc. (NASDAQ:PDD) $Pinduoduo Inc.(PDD)$ to announce $3.45 billion in sales for the current quarter, Two analysts have issued estimates for Pinduoduo’s earnings, with the lowest sales estimate coming in at $3.37 billion and the highest estimate coming in at $3.52 billion. Pinduoduo reported sales of $3.38 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.1%. The business is expected to report its next earnings report on Monday, January 1st.

Analysts expect that Pinduoduo will report full-year sales of $18.91 billion for the current fiscal year, with estimates ranging from $16.69 billion to $22.55 billion. For the next fiscal year, analysts forecast that the company will post sales of $24.78 billion, with estimates ranging from $19.03 billion to $32.62 billion. Sales averages are an average based on a survey of sell-side research firms that that provide coverage for Pinduoduo.

Pinduoduo last released its quarterly earnings data on Monday, March 21st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.72. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.74 billion. Pinduoduo had a return on equity of 15.76% and a net margin of 8.40%. During the same period in the prior year, the company posted ($0.17) earnings per share.

PDD has been the subject of a number of analyst reports. Barclays decreased their price target on Pinduoduo from $71.00 to $41.00 in a research note on Wednesday, March 23rd. Benchmark reduced their price objective on Pinduoduo from $156.00 to $85.00 in a research report on Tuesday, March 22nd. UBS Group upgraded Pinduoduo from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 23rd.

Nomura Instinet restated a “neutral” rating and set a $48.00 price objective (down previously from $95.00) on shares of Pinduoduo in a research report on Tuesday, March 22nd. Finally, HSBC reduced their price target on Pinduoduo from $76.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, March 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $88.08.

Shares ofPDDopened at $37.31 on Thursday. The stock has a market cap of $46.22 billion, a P/E ratio of 45.50 and a beta of 1.32. The company has a current ratio of 1.72, a quick ratio of 1.82 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $45.22 and its two-hundred day moving average price is $62.75. Pinduoduo has a 1 year low of $23.21 and a 1 year high of $144.35.

A number of hedge funds have recently bought and sold shares of PDD. Norges Bank acquired a new position in Pinduoduo during the 4th quarter worth approximately $266,519,000. Krane Funds Advisors LLC raised its stake in shares of Pinduoduo by 131.6% in the third quarter. Krane Funds Advisors LLC now owns 5,901,628 shares of the company’s stock worth $535,101,000 after purchasing an additional 3,353,823 shares during the last quarter.

Marshall Wace LLP raised its stake in shares of Pinduoduo by 1,866.0% in the fourth quarter. Marshall Wace LLP now owns 2,799,219 shares of the company’s stock worth $163,193,000 after purchasing an additional 2,656,840 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Pinduoduo in the third quarter worth approximately $195,382,000.

Finally, Baillie Gifford & Co. raised its stake in shares of Pinduoduo by 5.9% in the fourth quarter. Baillie Gifford & Co. now owns 29,101,766 shares of the company’s stock worth $1,696,633,000 after purchasing an additional 1,613,256 shares during the last quarter. 21.18% of the stock is currently owned by institutional investors and hedge funds.

Pinduoduo Company Profile

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 apparel, shoes, bags, mother and childcare products, food and beverage, fresh produce, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness items, and auto accessories.

source: defense world