Pinduoduo Inc (NASDAQ:PDD) Expected to Post Quarterly Sales of $845.48 Million

Equities analysts predict that Pinduoduo Inc (NASDAQ:PDD) will announce sales of $845.48 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Pinduoduo’s earnings. The lowest sales estimate is $804.64 million and the highest is $912.26 million. Pinduoduo posted sales of $409.40 million during the same quarter last year, which would indicate a positive year over year growth rate of 106.5%. The business is scheduled to issue its next earnings report on Thursday, August 29th.

On average, analysts expect that Pinduoduo will report full-year sales of $4.08 billion for the current year, with estimates ranging from $3.94 billion to $4.24 billion. For the next year, analysts forecast that the company will post sales of $6.74 billion, with estimates ranging from $6.36 billion to $7.14 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Pinduoduo.

Pinduoduo (NASDAQ:PDD) last posted its quarterly earnings data on Monday, May 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.04. The business had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.11 billion. Pinduoduo had a negative net margin of 73.90% and a negative return on equity of 76.66%. Pinduoduo’s quarterly revenue was up 228.3% on a year-over-year basis.

Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Pinduoduo from a “buy” rating to a “hold” rating in a report on Thursday. New Street Research initiated coverage on shares of Pinduoduo in a report on Thursday, June 20th. They issued a “buy” rating for the company. 86 Research initiated coverage on shares of Pinduoduo in a report on Tuesday, May 7th. They issued a “hold” rating and a $23.74 price target for the company. KeyCorp initiated coverage on shares of Pinduoduo in a report on Tuesday, April 16th. They issued an “overweight” rating and a $32.00 price target for the company. Finally, Macquarie initiated coverage on shares of Pinduoduo in a report on Friday, July 5th. They issued an “outperform” rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $28.28.

Shares of NASDAQ PDD traded up $0.33 during trading hours on Monday, hitting $22.99. 8,492,161 shares of the stock were exchanged, compared to its average volume of 4,923,534. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $20.63. The stock has a market cap of $24.67 billion and a price-to-earnings ratio of -11.50. Pinduoduo has a one year low of $16.53 and a one year high of $31.99.

Large investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new position in shares of Pinduoduo during the 1st quarter worth about $35,000. WT Asset Management Ltd lifted its holdings in shares of Pinduoduo by 44.8% during the 1st quarter. WT Asset Management Ltd now owns 787,448 shares of the company’s stock worth $64,000 after acquiring an additional 243,622 shares during the period. Quadrant Capital Group LLC bought a new position in shares of Pinduoduo during the 1st quarter worth about $66,000. Atlas Capital Advisors LLC bought a new position in shares of Pinduoduo during the 1st quarter worth about $87,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Pinduoduo during the 1st quarter worth about $102,000. 10.44% of the stock is owned by institutional investors.

About Pinduoduo

Pinduoduo Inc operates an e-commerce platform in the People's Republic of China. It also operates Pinduoduo, a mobile platform that offers a range of priced merchandise. The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc in July 2018. Pinduoduo Inc was founded in 2015 and is based in Shanghai, the People's Republic of China.

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Earnings History and Estimates for Pinduoduo (NASDAQ:PDD)

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