Pinduoduo (PDD) Announces Earnings Results, Beats Estimates By $0.04 EPS

Share on StockTwits

Pinduoduo (NASDAQ:PDD) announced its quarterly earnings data on Monday. The company reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.04, Morningstar.com reports. Pinduoduo had a negative return on equity of 114.98% and a negative net margin of 78.51%. The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.11 billion. The company’s quarterly revenue was up 228.3% compared to the same quarter last year.

NASDAQ PDD opened at $21.69 on Tuesday. Pinduoduo has a twelve month low of $16.53 and a twelve month high of $31.99. The stock has a market cap of $23.02 billion and a P/E ratio of -10.83.

Several analysts have weighed in on PDD shares. Bank of America started coverage on Pinduoduo in a report on Wednesday, May 15th. They issued a “buy” rating on the stock. Jefferies Financial Group started coverage on Pinduoduo in a report on Monday, April 15th. They issued a “buy” rating and a $30.00 target price on the stock. UBS Group started coverage on Pinduoduo in a report on Wednesday, March 6th. They issued a “buy” rating and a $37.00 target price on the stock. ValuEngine lowered Pinduoduo from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. Finally, HSBC started coverage on Pinduoduo in a report on Friday, February 1st. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $29.95.

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Pinduoduo by 79.0% in the 1st quarter. FMR LLC now owns 9,991,307 shares of the company’s stock worth $247,785,000 after purchasing an additional 4,408,544 shares during the period. BlackRock Inc. grew its stake in shares of Pinduoduo by 10,013.8% in the first quarter. BlackRock Inc. now owns 9,015,008 shares of the company’s stock valued at $223,573,000 after buying an additional 8,925,872 shares in the last quarter. Greenwoods Asset Management Ltd grew its stake in Pinduoduo by 17.7% during the 1st quarter. Greenwoods Asset Management Ltd now owns 4,077,625 shares of the company’s stock valued at $101,125,000 after purchasing an additional 611,976 shares in the last quarter. Krane Funds Advisors LLC grew its stake in Pinduoduo by 8.7% during the 1st quarter. Krane Funds Advisors LLC now owns 3,116,352 shares of the company’s stock valued at $77,286,000 after purchasing an additional 249,951 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd grew its stake in Pinduoduo by 24,995.7% during the 1st quarter. MARSHALL WACE ASIA Ltd now owns 2,876,721 shares of the company’s stock valued at $71,342,000 after purchasing an additional 2,865,258 shares in the last quarter. Institutional investors own 7.00% of the company’s stock.

WARNING: This piece of content was reported by Highlight Press and is the property of of Highlight Press. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://highlightpress.com/2019/05/21/pinduoduo-pdd-announces-earnings-results-beats-estimates-by-0-04-eps.html.

Pinduoduo Company Profile

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.

Recommended Story: What is a blue-chip stock?

Receive News & Ratings for Pinduoduo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinduoduo and related companies with MarketBeat.com's FREE daily email newsletter.