Pinduoduo (PDD) Tops Q2 EPS by 281c; offers commentary

Pinduoduo Inc. (PDD) PT Lowered to $168 at China Galaxy International, 'We expect revenue to climb 42% and non-GAAP net profit 33% yoy in 3Q24F'

China Galaxy International analyst Lei Yang lowered the price target on Pinduoduo Inc. (NASDAQ: PDD) to $168.00 (from $242.00) while maintaining a Add rating.

The analyst comments "Total revenue rose 85.7% yoy to Rmb97.1bn in 2Q24, marginally below our forecast, mainly on slightly lower than... More

Pinduoduo Inc. (PDD) PT Lowered to $185 at Benchmark

Benchmark analyst Fawne Jiang lowered the price target on Pinduoduo Inc. (NASDAQ: PDD) to $185.00 (from $230.00) while maintaining a Buy rating.

The analyst comments "PDD faced significant pressure yesterday following its mixed 2Q24 results. While revenue fell short of consensus, profitability exceeded... More

Pinduoduo Inc. (PDD) PT Lowered to $170 at Bernstein SocGen Group

Bernstein SocGen Group analyst Robin Zhu lowered the price target on Pinduoduo Inc. (NASDAQ: PDD) to $170.00 (from $235.00) while maintaining a Outperform rating.

The analyst comments "The win streak comes to a violent end. PDDs Q2 results were slightly light on top-line, while coming in-line with our estimates for core non-GAAP operating profit. Revenue of RMB97.1bn grew 85.7% year on year. Non-GAAP operating profit of RMB35.0bn beat consensus (RMB31.1bn) by 12.5%. 29% Online Marketing Services revenue growth likely drove the reaction in PDDs shares,... More

Pinduoduo Inc. (PDD) PT Lowered to $170 at BofA Securities

BofA Securities analyst Joyce Ju lowered the price target on Pinduoduo Inc. (NASDAQ: PDD) to $170.00 (from $206.00) while maintaining a Buy rating.

The analyst comments "PDD reported mixed results in 2Q24. While 2Q earnings continue to show much more solid momentum than the industry and peers, mgmt.s tone on growth and profit outlook for 2H24 and beyond are very conservative. Co. sees... More

Pinduoduo Inc. (PDD) PT Lowered to $151 at Jefferies

Jefferies analyst Thomas Chong lowered the price target on Pinduoduo Inc. (NASDAQ: PDD) to $151.00 (from $193.00) while maintaining a Buy rating.

The analyst comments "Key takeaways from conference call: (1) PDD saw a number of new challenges which include (a) changing consumer demand, (b) domestic competition and (c) global environment; (2) PDD is co-operating with brands and quality merchants on... More

Citi Reiterates Buy Rating on Pinduoduo Inc. (PDD), PT $194, 'it is not surprising that it delivers a set of results that missed consensus expectation'

Citi analyst Alicia Yap reiterated a Buy rating and $194.00 price target on Pinduoduo Inc. (NASDAQ: PDD)

The analyst comments "PDD reported a mixed 2Q24 with total revs +86% yoy to Rmb97.1bn, 5%/3% below our/consensus estimates of Rmb102.0bn/Rmb100.0bn, mainly due to softer-than-expected transaction services revs which grew 234% yoy to Rmb47.9bn, 7% below our Rmb51.4bn and weaker-than-expected online marketing services and others revs that grew 29% yoy to Rmb49.1bn, 2.8% below than our est. of Rmb50.5bn. Thanks to higher GPM and lower opex despite slower revenues, non-GAAP NP attributable to ordinary... More

PDD Holdings misses estimates, stock tumbles on revenue growth concerns

(Updated - August 26, 2024 9:41 AM EDT)

PDD Holdings (NASDAQ: PDD) reported second-quarter revenue that fell short of analyst expectations, sending its shares plummeting over 25% as the company warned of slowing growth ahead.

The Chinese e-commerce giant posted revenue of RMB97.06 billion ($13.36 billion) for the quarter ended June 30, up 86% YoY but below the consensus estimate of RMB99.42 billion. Adjusted earnings per share came in at RMB23.24 ($3.20), beating expectations of RMB20.43.

Despite the earnings beat, investors focused on the company's cautious outlook. PDD... More