Pinduoduo Inc (NASDAQ:PDD) Expected to Post Quarterly Sales of $858.45 Million

Equities research analysts forecast that Pinduoduo Inc (NASDAQ:PDD) will report sales of $858.45 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Pinduoduo’s earnings, with the highest sales estimate coming in at $912.26 million and the lowest estimate coming in at $804.64 million. Pinduoduo reported sales of $409.40 million during the same quarter last year, which would suggest a positive year over year growth rate of 109.7%. The business is scheduled to report its next quarterly earnings results on Thursday, August 29th.

According to Zacks, analysts expect that Pinduoduo will report full year sales of $4.08 billion for the current financial year, with estimates ranging from $3.94 billion to $4.24 billion. For the next year, analysts forecast that the firm will report sales of $6.74 billion, with estimates ranging from $6.36 billion to $7.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Pinduoduo.

Pinduoduo (NASDAQ:PDD) last announced its quarterly earnings data on Monday, May 20th. The company reported ($0.24) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.04. Pinduoduo had a negative net margin of 73.90% and a negative return on equity of 76.66%. The firm had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.11 billion. Pinduoduo’s revenue was up 228.3% compared to the same quarter last year.

PDD has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Pinduoduo in a research report on Monday, April 15th. They set a “buy” rating and a $30.00 price objective on the stock. Zacks Investment Research upgraded shares of Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Friday, June 28th. Benchmark began coverage on shares of Pinduoduo in a research note on Thursday, June 13th. They set a “buy” rating and a $28.00 target price for the company. New Street Research upgraded shares of TIM Participacoes from a “neutral” rating to a “buy” rating in a research note on Thursday, June 20th. Finally, KeyCorp began coverage on shares of Pinduoduo in a research note on Tuesday, April 16th. They set an “overweight” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $28.28.

PDD traded down $0.20 on Friday, reaching $19.14. 4,545,308 shares of the company traded hands, compared to its average volume of 7,519,674. The business has a 50 day moving average price of $20.21. Pinduoduo has a 52-week low of $16.53 and a 52-week high of $31.99. The stock has a market cap of $21.98 billion and a P/E ratio of -9.57. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01.

Several large investors have recently made changes to their positions in PDD. Gilder Gagnon Howe & Co. LLC grew its stake in shares of Pinduoduo by 12.1% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 5,200 shares of the company’s stock valued at $129,000 after buying an additional 561 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Pinduoduo by 8.9% during the first quarter. Dynamic Technology Lab Private Ltd now owns 17,460 shares of the company’s stock worth $433,000 after buying an additional 1,427 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Pinduoduo in the first quarter valued at about $35,000. Quadrant Capital Group LLC acquired a new position in Pinduoduo in the first quarter valued at about $66,000. Finally, Atlas Capital Advisors LLC acquired a new position in Pinduoduo in the first quarter valued at about $87,000. Institutional investors and hedge funds own 10.37% of the company’s stock.

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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