Pinduoduo Inc (NASDAQ:PDD) Expected to Post Quarterly Sales of $1.14 Billion

Wall Street brokerages expect that Pinduoduo Inc (NASDAQ:PDD) will report $1.14 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Pinduoduo’s earnings. The lowest sales estimate is $1.12 billion and the highest is $1.16 billion. Pinduoduo posted sales of $491.03 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 132.2%. The business is expected to announce its next earnings report on Tuesday, November 19th.

On average, analysts expect that Pinduoduo will report full year sales of $4.42 billion for the current year, with estimates ranging from $4.23 billion to $4.55 billion. For the next financial year, analysts expect that the business will report sales of $7.10 billion, with estimates ranging from $6.93 billion to $7.45 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Pinduoduo.

Pinduoduo (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, August 21st. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.13. The business had revenue of $7.29 billion during the quarter, compared to the consensus estimate of $6.15 billion. Pinduoduo had a negative return on equity of 28.55% and a negative net margin of 30.74%. The firm’s quarterly revenue was up 169.1% on a year-over-year basis.

A number of equities analysts have recently issued reports on PDD shares. New Street Research started coverage on Pinduoduo in a research report on Thursday, June 20th. They set a “buy” rating for the company. ValuEngine cut Pinduoduo from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Macquarie initiated coverage on Pinduoduo in a research note on Friday, July 5th. They set an “outperform” rating and a $30.00 target price for the company. Nomura initiated coverage on Pinduoduo in a research note on Wednesday. They set a “neutral” rating and a $34.00 target price for the company. Finally, Zacks Investment Research raised Pinduoduo from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Saturday, October 5th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.51.

Pinduoduo stock traded up $1.25 during trading hours on Friday, hitting $33.19. The stock had a trading volume of 132,151 shares, compared to its average volume of 7,488,091. Pinduoduo has a one year low of $16.53 and a one year high of $36.89. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.01. The stock has a market cap of $36.85 billion, a price-to-earnings ratio of -16.58 and a beta of 1.41. The business’s 50 day simple moving average is $32.95 and its 200-day simple moving average is $24.54.

Hedge funds and other institutional investors have recently modified their holdings of the business. Barings LLC grew its stake in Pinduoduo by 72.5% in the second quarter. Barings LLC now owns 1,206,227 shares of the company’s stock valued at $24,884,000 after acquiring an additional 507,041 shares during the period. Luminus Management LLC bought a new stake in shares of Pinduoduo in the second quarter valued at $11,125,000. Magnetar Financial LLC bought a new stake in shares of Pinduoduo in the second quarter valued at $516,000. OZ Management LP bought a new stake in shares of Pinduoduo in the second quarter valued at $4,126,000. Finally, Bamco Inc. NY raised its stake in shares of Pinduoduo by 27.2% in the second quarter. Bamco Inc. NY now owns 75,667 shares of the company’s stock valued at $1,561,000 after buying an additional 16,185 shares during the period. 13.00% of the stock is currently owned by hedge funds and other institutional investors.

Pinduoduo Company Profile

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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