PDD Holdings misses estimates, stock tumbles on revenue growth concerns
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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'
August 28, 2024 12:30 PM EDTChina 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
August 27, 2024 7:22 AM EDTBenchmark 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
August 27, 2024 5:50 AM EDTBernstein 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
August 27, 2024 5:36 AM EDTBofA 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
August 26, 2024 12:31 PM EDTJefferies 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'
August 26, 2024 8:29 AM EDTCiti 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
China's PDD suffers $55 billion market cap wipeout after flagging an uncertain market
August 26, 2024 6:36 AM EDTBy Sophie Yu and Deborah Mary Sophia
(Reuters) -China's PDD Holdings missed market estimates for quarterly revenue on Monday, and downbeat comments from executives about China's domestic e-commerce competition and the firm's global outlook sent its shares down more than 28%.
The biggest one-day share fall for PDD since it listed in the U.S. in 2018 wiped out nearly $55 billion in market capitalisation. The e-commerce retailer operates discount-focused platforms Pinduoduo in China and Temu for the international market.
"(We) are seeing many new challenges ahead, from changing consumer demand, intensifying competition and uncertainties in the global environment,"... More
Pinduoduo (PDD) Tops Q2 EPS by 281c; offers commentary
August 26, 2024 6:32 AM EDTPinduoduo (NASDAQ: PDD) reported Q2 EPS of RMB23.24, RMB2.81 better than the analyst estimate of RMB20.43. Revenue for the quarter came in at RMB97.06 billion versus the consensus estimate of RMB99.42 billion.
In the past quarter, our revenue growth rate slowed quarter-on-quarter. Looking ahead,... More
Pinduoduo (PDD) call put ratio 2.6 calls to 1 put into quarter results
August 23, 2024 10:57 AM EDTPinduoduo (NASDAQ: PDD) August 30 weekly call option implied volatility is at 79, September is at 49; compared to its 52-week range of 30 to 77 into the expected release of quarter results before the bell on August 26.
... MorePinduoduo (PDD) August 30 weekly 147 straddle priced into quarter results
August 23, 2024 5:05 AM EDTPinduoduo (NASDAQ: PDD) August 30 weekly 147 straddle priced for a move of 8% into the expected release of quarter results before the bell on August 26.
... More