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

Analysts forecast that Pinduoduo Inc. (NASDAQ:PDD) will post $4.09 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Pinduoduo’s earnings, with the highest sales estimate coming in at $4.29 billion and the lowest estimate coming in at $3.72 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 company is scheduled to announce its next earnings results on Friday, August 20th.

According to Zacks, analysts expect that Pinduoduo will report full-year sales of $18.40 billion for the current financial year, with estimates ranging from $16.89 billion to $19.82 billion. For the next year, analysts expect that the firm will post sales of $26.52 billion, with estimates ranging from $22.17 billion to $35.00 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Pinduoduo.

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

A number of research firms have recently issued reports on PDD. Zacks Investment Research cut Pinduoduo from a “hold” rating to a “sell” rating in a report on Wednesday, May 19th. Daiwa Capital Markets assumed 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. China Renaissance Securities restated a “hold” rating on shares of Pinduoduo in a research note on Monday, April 26th. Citigroup cut their target price on Pinduoduo from $190.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, May 27th. Finally, cut their target price on Pinduoduo from $190.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, May 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Pinduoduo has an average rating of “Buy” and an average target price of $160.00.

Pinduoduo stock traded up $0.53 during midday trading on Friday, hitting $105.05. 103,139 shares of the company’s stock were exchanged, compared to its average volume of 7,030,390. The stock’s 50-day moving average price is $121.39. Pinduoduo has a 52-week low of $69.89 and a 52-week high of $212.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market capitalization of $130.13 billion, a P/E ratio of -141.57 and a beta of 1.46.

A number of large investors have recently added to or reduced their stakes in PDD. Norges Bank acquired a new position in Pinduoduo during the fourth quarter worth $659,086,000. Canada Pension Plan Investment Board lifted its stake in Pinduoduo by 150.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 4,394,853 shares of the company’s stock worth $780,833,000 after purchasing an additional 2,641,053 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Pinduoduo by 392.8% in the first quarter. Assenagon Asset Management S.A. now owns 2,731,921 shares of the company’s stock valued at $365,750,000 after acquiring an additional 2,177,521 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Pinduoduo by 5.9% in the first quarter. Baillie Gifford & Co. now owns 26,867,200 shares of the company’s stock valued at $3,596,980,000 after acquiring an additional 1,497,750 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. acquired a new stake in shares of Pinduoduo in the first quarter valued at $185,394,000. Institutional investors own 19.52% of the company’s stock.

Pinduoduo Company Profile

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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Earnings History and Estimates for Pinduoduo (NASDAQ:PDD)

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