Pinduoduo (NASDAQ:PDD) Announces Earnings, Beats Estimates of $2.68 EPS


Pinduo duo (NASDAQ:PDDGet a rating) announced its financial results on Friday. The company reported earnings per share of $2.95 for the quarter, beating consensus analyst estimates of $0.27 by $2.68, MarketWatch Earnings reports. Pinduoduo achieved a net margin of 8.40% and a return on equity of 15.76%. In the same quarter of the previous year, the company made earnings per share ($0.36).

Shares of NASDAQ:PDD traded at $6.37 in Friday’s midday session, reaching $48.30. 31,700,185 shares of the company have been traded, against an average volume of 15,086,026. The company has a debt ratio of 0.16, a current ratio of 1.72 and a quick ratio of 1.72. The stock has a 50-day moving average price of $40.89 and a 200-day moving average price of $52.47. The company has a market capitalization of $59.83 billion, a PE ratio of 58.90 and a beta of 1.19. Pinduoduo has a 12-month low of $23.21 and a 12-month high of $143.11.

A number of institutional investors have recently increased or reduced their stake in PDD. Arrowstreet Capital Limited Partnership purchased a new position in Pinduoduo during the first quarter worth approximately $72,253,000. Renaissance Technologies LLC increased its holdings in Pinduoduo by 104.0% during the first quarter. Renaissance Technologies LLC now owns 2,087,700 shares of the company worth $83,738,000 after purchasing an additional 1,064,300 shares in the last quarter. Altimeter Capital Management LP increased its holdings in Pinduoduo by 150.0% during the first quarter. Altimeter Capital Management LP now owns 500,000 shares of the company worth $20,055,000 after purchasing an additional 300,000 shares in the last quarter. Vanguard Group Inc. increased its stake in Pinduoduo by 1.5% during the first quarter. Vanguard Group Inc. now owns 14,124,382 shares of the company worth $566,528,000 after purchasing an additional 211,729 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in Pinduoduo by 136.0% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 257,145 shares of the company worth $10,857,000 after purchasing an additional 148,166 shares in the last quarter. Institutional investors and hedge funds hold 21.84% of the company’s shares.

A number of stock analysts have weighed in on the stock recently. Barclays lowered its target price on Pinduoduo shares from $71.00 to $41.00 in a Wednesday, March 23 research note. Nomura downgraded Pinduoduo shares from a “buy” rating to a “neutral” rating and lowered its price target for the company from $95.00 to $48.00 in a Tuesday, March 22 research note. Nomura Instinet reaffirmed a “neutral” rating and issued a price target of $48.00 (vs. $95.00) on Pinduoduo shares in a research note on Tuesday, March 22. Benchmark reduced its price target on Pinduoduo shares from $156.00 to $85.00 in a Tuesday, March 22 research note. Finally, HSBC lowered its price target on Pinduoduo shares from $76.00 to $46.00 and set a “holding” rating for the company in a Tuesday, March 22 research note. One research analyst rated the stock with a sell rating, four gave the stock a hold rating, and eight gave the stock a buy rating. Based on data from MarketBeat, Pinduoduo currently has a consensus rating of “Buy” and a consensus price target of $75.36.

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.

See also

Earnings History for Pinduoduo (NASDAQ:PDD)



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