Macquarie Downgrades Pinduoduo Inc. (PDD) to Neutral
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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
