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Pinduoduo Inc. Sponsored ADR (PDD) Gains As Market Dips: What You Should Know
Pinduoduo Inc. Sponsored ADR (PDD - Free Report) closed the most recent trading day at $96.49, moving +0.19% from the previous trading session. This change outpaced the S&P 500's 0.02% loss on the day. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.44%.
Prior to today's trading, shares of the company had gained 13.04% over the past month. This has outpaced the Retail-Wholesale sector's gain of 8.35% and the S&P 500's gain of 4.57% in that time.
Wall Street will be looking for positivity from Pinduoduo Inc. Sponsored ADR as it approaches its next earnings report date. On that day, Pinduoduo Inc. Sponsored ADR is projected to report earnings of $1.21 per share, which would represent year-over-year growth of 31.52%. Our most recent consensus estimate is calling for quarterly revenue 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 revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Pinduoduo Inc. Sponsored ADR is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Pinduoduo Inc. Sponsored ADR's current valuation metrics, including its Forward P/E ratio of 21.67. This represents a discount compared to its industry's average Forward P/E of 22.4.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.