Pony AI (NASDAQ:PONY) Price Target Lowered to $24.50 at Citigroup

Pony AI (NASDAQ:PONY) had its price target lowered by research analysts at Citigroup from $29.00 to $24.50 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 74.50% from the company’s current price.

A number of other equities analysts also recently issued reports on PONY. Weiss Ratings reissued a “sell (d-)” rating on shares of Pony AI in a report on Wednesday, October 8th. UBS Group assumed coverage on shares of Pony AI in a research report on Monday, August 4th. They set a “buy” rating and a $20.00 price objective for the company. Daiwa America raised Pony AI to a “strong-buy” rating in a report on Sunday, July 27th. Wall Street Zen raised Pony AI from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Daiwa Capital Markets began coverage on shares of Pony AI in a research note on Sunday, July 27th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pony AI currently has an average rating of “Moderate Buy” and an average target price of $20.42.

Pony AI Stock Performance

Shares of PONY traded down $0.78 during mid-day trading on Friday, hitting $14.04. 12,142,533 shares of the company traded hands, compared to its average volume of 7,691,930. The stock has a market cap of $4.92 billion and a price-to-earnings ratio of -11.23. The stock has a 50-day moving average price of $18.91 and a two-hundred day moving average price of $15.61. Pony AI has a 1 year low of $4.11 and a 1 year high of $24.92.

Pony AI (NASDAQ:PONY) last announced its earnings results on Tuesday, August 12th. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $21.45 million for the quarter. On average, analysts forecast that Pony AI will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Pony AI

Several large investors have recently made changes to their positions in PONY. Allspring Global Investments Holdings LLC purchased a new stake in shares of Pony AI in the first quarter worth about $293,000. Robeco Schweiz AG grew its holdings in Pony AI by 21.7% during the 1st quarter. Robeco Schweiz AG now owns 747,000 shares of the company’s stock valued at $6,589,000 after buying an additional 133,000 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Pony AI in the 1st quarter worth approximately $2,336,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Pony AI during the 1st quarter worth approximately $1,138,000. Finally, Keystone Investors PTE Ltd. bought a new position in shares of Pony AI during the 1st quarter valued at approximately $120,000.

Pony AI Company Profile

Pony AI Inc, through its subsidiaries, engages in the autonomous mobility principally in the People’s Republic of China and the United States. The company provides robotruck services, such as transportation services to the logistics platforms. Pony AI Inc is based in Guangzhou, the People’s Republic of China.