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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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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice.