$1.76 Billion in Sales Expected for Pinduoduo Inc (NASDAQ:PDD) This Quarter

Equities analysts predict that Pinduoduo Inc (NASDAQ:PDD) will announce sales of $1.76 billion for the current quarter, Zacks reports. Three analysts have issued estimates for Pinduoduo’s earnings, with estimates ranging from $1.54 billion to $1.94 billion. Pinduoduo reported sales of $1.06 billion during the same quarter last year, which indicates a positive year over year growth rate of 66%. The company is scheduled to report its next earnings results on Wednesday, August 19th.

On average, analysts expect that Pinduoduo will report full year sales of $7.14 billion for the current financial year, with estimates ranging from $6.84 billion to $7.58 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $11.33 billion, with estimates ranging from $10.37 billion to $12.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Pinduoduo.

Pinduoduo (NASDAQ:PDD) last announced its quarterly earnings results on Friday, May 22nd. The company reported ($2.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($2.39). Pinduoduo had a negative net margin of 28.48% and a negative return on equity of 37.60%. The company had revenue of $6.54 billion for the quarter, compared to analysts’ expectations of $5.21 billion. During the same period in the previous year, the business earned ($0.20) EPS. The business’s revenue was up 43.9% compared to the same quarter last year.

A number of brokerages have commented on PDD. JPMorgan Chase & Co. upgraded shares of Pinduoduo from an “underweight” rating to a “neutral” rating in a report on Tuesday, July 21st. Macquarie boosted their target price on shares of Pinduoduo from $90.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. Zacks Investment Research upgraded shares of Pinduoduo from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. CLSA upped their price objective on shares of Pinduoduo from $46.50 to $72.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, KeyCorp increased their price target on shares of Pinduoduo from $84.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $68.58.

NASDAQ:PDD traded up $6.86 during mid-day trading on Tuesday, reaching $91.80. The company’s stock had a trading volume of 12,582,788 shares, compared to its average volume of 8,416,476. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average of $84.26 and a 200-day moving average of $54.41. Pinduoduo has a 1 year low of $21.22 and a 1 year high of $98.96.

Large investors have recently modified their holdings of the stock. TRUE Private Wealth Advisors acquired a new stake in shares of Pinduoduo during the 2nd quarter worth about $42,000. Cornerstone Advisors Inc. increased its position in shares of Pinduoduo by 75.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 576 shares of the company’s stock worth $49,000 after purchasing an additional 248 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new stake in shares of Pinduoduo during the 2nd quarter worth about $69,000. Credit Agricole S A acquired a new stake in shares of Pinduoduo during the 1st quarter worth about $36,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Pinduoduo during the 2nd quarter worth about $100,000. 20.03% of the stock is owned by hedge funds and other institutional investors.

About Pinduoduo

Pinduoduo Inc operates an e-commerce platform in the People's Republic of China. It also operates Pinduoduo, a mobile platform that offers a range of priced merchandise. The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc in July 2018. Pinduoduo Inc was founded in 2015 and is based in Shanghai, the People's Republic of China.

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Earnings History and Estimates for Pinduoduo (NASDAQ:PDD)

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