Pinduoduo earnings likely to take hit from spending plans as competition heats up
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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
