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Pinduoduo tops revenue estimates for Q3 – the stock is rising

29 November 2022 By Klavs Valters

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The Chinese e-commerce platform Pinduoduo Inc. (NASDAQ: PDD) announced its unaudited Q3 financial results on Monday.

The company beat revenue estimates for the quarter, but fell short of earnings per share (EPS) estimates.

Revenue reported at $4.991 billion (an increase of 65% year-over-year) vs. $4.315 billion estimate.

EPS at $0.302 per share vs. analyst estimate of $0.673 per share.

”We continued to deepen our value creation in the third quarter,” Lei Chen, Chairman and CEO of the company said in a press release.

”We will increase our R&D investment to further enhance the supply chain efficiency and agricultural digital inclusion,” Chen added.

 

The latest results had a positive impact on the stock price. Shares of Pinduoduo were up by around 14% on Monday, trading $74.97 a share.

Stock performance

  • 1 month: +36.93%
  • 3 month: +69%
  • Year-to-date: +78%
  • 1 year: +34%

Pinduoduo price targets

  • Citigroup: $79
  • Barclays: $70
  • B of A Securities: $89
  • HSBC: $93
  • JP Morgan: $23
  • DBS Bank: $96
  • Macquarie: $104

Pinduoduo is the 136th largest company in the world with a market cap of $94.92 billion.

You can trade Pinduoduo Inc. (NASDAQ: PDD) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.

Sources: Pinduoduo Inc., TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap

 

 

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