Yahoo Finance Pinduoduo Inc. Sponsored ADR (PDD) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Pinduoduo Inc. Sponsored ADR (PDD) closed at $93.81, marking a -1.92% move from the previous day. This change lagged the S&P 500's daily loss of 0.61%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.67%.
Prior to today's trading, shares of the company had lost 0.32% over the past month. This has lagged the Retail-Wholesale sector's gain of 10.67% and the S&P 500's gain of 8.32% in that time.
Pinduoduo Inc. Sponsored ADR will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.21, up 31.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.88 billion, up 37.51% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Pinduoduo Inc. Sponsored ADR. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Pinduoduo Inc. Sponsored ADR currently has a Zacks Rank of #3 (Hold).
Investors should also note Pinduoduo Inc. Sponsored ADR's current valuation metrics, including its Forward P/E ratio of 21.53. Its industry sports an average Forward P/E of 21.6, so we one might conclude that Pinduoduo Inc. Sponsored ADR is trading at a discount comparatively.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PDD in the coming trading sessions, be sure to utilize Zacks.com.
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Pinduoduo Inc. Sponsored ADR (PDD) : Free Stock Analysis Report
