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PDD Holdings Inc. (PDD) Surges 10.5%: Is This an Indication of Further Gains?
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PDD Holdings Inc. (PDD - Free Report) shares rallied 10.5% in the last trading session to close at $137.54. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.2% gain over the past four weeks.
Pinduoduo extended its rally, driven by a strong momentum across its online marketing and transaction services. The company’s continuous efforts to strengthen the agriculture and grocery businesses remain noteworthy. Strengthening partnerships with local communities, shops, farmers and agri-merchants are a plus.
This company is expected to post quarterly earnings of $1.60 per share in its upcoming report, which represents a year-over-year change of +58.4%. Revenues are expected to be $10.42 billion, up 90.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For PDD Holdings Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PDD going forward to see if this recent jump can turn into more strength down the road.
PDD Holdings Inc. belongs to the Zacks Internet - Commerce industry. Another stock from the same industry, Alibaba (BABA - Free Report) , closed the last trading session 6.4% higher at $80.33. Over the past month, BABA has returned 4.2%.
Alibaba's consensus EPS estimate for the upcoming report has changed -13.5% over the past month to $1.20. Compared to the company's year-ago EPS, this represents a change of -23.1%. Alibaba currently boasts a Zacks Rank of #4 (Sell).
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PDD Holdings Inc. (PDD) Surges 10.5%: Is This an Indication of Further Gains?
PDD Holdings Inc. (PDD - Free Report) shares rallied 10.5% in the last trading session to close at $137.54. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.2% gain over the past four weeks.
Pinduoduo extended its rally, driven by a strong momentum across its online marketing and transaction services. The company’s continuous efforts to strengthen the agriculture and grocery businesses remain noteworthy. Strengthening partnerships with local communities, shops, farmers and agri-merchants are a plus.
This company is expected to post quarterly earnings of $1.60 per share in its upcoming report, which represents a year-over-year change of +58.4%. Revenues are expected to be $10.42 billion, up 90.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For PDD Holdings Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PDD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
PDD Holdings Inc. belongs to the Zacks Internet - Commerce industry. Another stock from the same industry, Alibaba (BABA - Free Report) , closed the last trading session 6.4% higher at $80.33. Over the past month, BABA has returned 4.2%.
Alibaba's consensus EPS estimate for the upcoming report has changed -13.5% over the past month to $1.20. Compared to the company's year-ago EPS, this represents a change of -23.1%. Alibaba currently boasts a Zacks Rank of #4 (Sell).