Pinduoduo Inc. (NASDAQ:PDD) Expected to Announce Quarterly Sales of $4.09 Billion

Equities analysts expect Pinduoduo Inc. (NASDAQ:PDD) to report $4.09 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Pinduoduo’s earnings, with estimates ranging from $3.72 billion to $4.29 billion. Pinduoduo posted sales of $1.73 billion during the same quarter last year, which suggests a positive year over year growth rate of 136.4%. The firm is scheduled to report its next quarterly earnings report on Friday, August 20th.

According to Zacks, analysts expect that Pinduoduo will report full-year sales of $18.40 billion for the current fiscal year, with estimates ranging from $16.89 billion to $19.82 billion. For the next financial year, analysts expect that the business will post sales of $26.52 billion, with estimates ranging from $22.17 billion to $35.00 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Pinduoduo.

Pinduoduo (NASDAQ:PDD) last released its earnings results on Tuesday, May 25th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.84). The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.15 billion. Pinduoduo had a negative return on equity of 13.24% and a negative net margin of 7.96%.

Several analysts recently weighed in on the company. Citigroup reduced their price objective on Pinduoduo from $190.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, May 27th. Daiwa Capital Markets began coverage on Pinduoduo in a research report on Wednesday, May 5th. They issued a “buy” rating and a $180.00 target price for the company. Zacks Investment Research downgraded Pinduoduo from a “hold” rating to a “sell” rating in a research report on Wednesday, May 19th. China Renaissance Securities reiterated a “hold” rating on shares of Pinduoduo in a research report on Monday, April 26th. Finally, dropped their target price on Pinduoduo from $190.00 to $168.00 and set a “buy” rating for the company in a research report on Thursday, May 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $160.00.

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC raised its stake in shares of Pinduoduo by 99.0% in the first quarter. Parallel Advisors LLC now owns 199 shares of the company’s stock valued at $27,000 after buying an additional 99 shares during the period. Institutional & Family Asset Management LLC bought a new stake in shares of Pinduoduo in the first quarter valued at $32,000. Montag A & Associates Inc. bought a new stake in shares of Pinduoduo in the fourth quarter valued at $49,000. EMC Capital Management bought a new stake in shares of Pinduoduo in the first quarter valued at $40,000. Finally, IFP Advisors Inc raised its stake in shares of Pinduoduo by 400.0% during the 1st quarter. IFP Advisors Inc now owns 300 shares of the company’s stock valued at $40,000 after purchasing an additional 240 shares during the period. Hedge funds and other institutional investors own 19.52% of the company’s stock.

NASDAQ:PDD traded up $0.53 during trading hours on Friday, hitting $105.05. The company’s stock had a trading volume of 103,139 shares, compared to its average volume of 7,030,390. The stock has a fifty day simple moving average of $121.39. The stock has a market capitalization of $130.13 billion, a P/E ratio of -141.57 and a beta of 1.46. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.76 and a quick ratio of 1.76. Pinduoduo has a twelve month low of $69.89 and a twelve month high of $212.60.

About Pinduoduo

Pinduoduo, Inc operates as a holding company, which engages in the development and management of an e-commerce platform. Its Pinduoduo mobile application offers a selection of merchandise for buyer acquisition and engagement. The company was founded by Hua Lin Cai and Zheng Huang on April 20, 2015 and is headquartered in Shanghai, China.

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