$4.04 billion in sales expected for Pinduoduo Inc. (NASDAQ:PDD) this quarter

Stock analysts expect Pinduoduo Inc. (NASDAQ:PDD – Get a rating) will post sales of $4.04 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates of Pinduoduo’s earnings, with the highest sales estimate standing at $4.09 billion and the lowest estimate at $3.98 billion. Pinduoduo recorded sales of $3.57 billion in the same quarter last year, suggesting a positive growth rate of 13.2% year-over-year. The company is expected to announce its next quarterly results on Monday, January 1.

According to Zacks, analysts expect Pinduoduo to register annual sales of $16.67 billion for the current fiscal year, with estimates ranging from $16.66 billion to $16.69 billion. For next year, analysts expect the company to report sales of $20.18 billion, with estimates ranging from $19.03 billion to $21.34 billion. Zacks Investment Research’s sell calculations are an average average based on a survey of sell-side research analysts who track Pinduoduo.

Pinduoduo (NASDAQ:PDD – Get a rating) last reported results on Friday, May 27. The company reported earnings per share (EPS) of $2.95 for the quarter, beating analyst consensus estimates of $0.27 from $2.68. Pinduoduo had a return on equity of 23.30% and a net margin of 13.91%. In the same period a year earlier, the company posted ($0.36) earnings per share.

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The PDD has been the subject of several recent analyst reports. 86 Research upgraded Pinduoduo from a “hold” rating to a “buy” rating in a Friday, April 29 report. Citigroup raised its price target on Pinduoduo from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday. CLSA lowered its target price on Pinduoduo from $100.00 to $81.00 in a Tuesday, March 22 research report. Barclays lowered its target price on Pinduoduo from $71.00 to $41.00 in a Wednesday, March 23 research report. Finally, Nomura downgraded Pinduoduo from a “buy” rating to a “neutral” rating and lowered its target price for the company from $95.00 to $48.00 in a Tuesday, March 22 research report. One financial analyst has assigned the stock a sell rating, four have issued a hold rating and eight have assigned the company’s stock a buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $75.45.

Several hedge funds and other institutional investors have recently bought and sold shares of PDD. Shelton Capital Management increased its equity stake in Pinduoduo by 11.0% during Q3. Shelton Capital Management now owns 31,276 shares of the company valued at $2,836,000 after purchasing an additional 3,104 shares last quarter. Tiger Management LLC increased its stake in Pinduoduo shares by 18.6% in the third quarter. Tiger Management LLC now owns 16,600 shares of the company worth $1,505,000 after purchasing an additional 2,600 shares last quarter. First Republic Investment Management Inc. increased its stake in Pinduoduo shares by 36.9% in the third quarter. First Republic Investment Management Inc. now owns 12,976 shares of the company worth $1,177,000 after buying 3,496 additional shares last quarter. MARSHALL WACE ASIA Ltd increased its stake in Pinduoduo shares by 1,509.6% in the third quarter. MARSHALL WACE ASIA Ltd now owns 1,059,333 shares in the company worth $96,049,000 after purchasing an additional 993,521 shares last quarter. Finally, abrdn plc increased its stake in Pinduoduo shares by 3.4% in the fourth quarter. abrdn plc now owns 67,649 shares in the company worth $3,944,000 after buying an additional 2,231 shares last quarter. 21.84% of the stock is held by institutional investors.

Shares of PDD opened at $50.35 on Wednesday. The company has a market capitalization of $62.37 billion, a price-earnings ratio of 34.25 and a beta of 1.18. The company has a debt ratio of 0.16, a quick ratio of 1.72 and a current ratio of 1.72. The company’s fifty-day moving average price is $41.11 and its two-hundred-day moving average price is $51.85. Pinduoduo has a 52-week low of $23.21 and a 52-week 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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