Glonghui, May 24 | Following yesterday's closing 4.45% increase, Pinduoduo (PDD.US) rose 1.5% to $155.95 before the market today. According to financial reports recently released by Pinduoduo, Q1 revenue for 2024 was 86.81 billion yuan, up 131% year on year, far exceeding market expectations of 75.6 billion yuan, mainly driven by increased revenue from online marketing services and transaction services; adjusted net profit of 30.60 billion yuan, up 202% year on year, far exceeding market expectations of 15.53 billion yuan; adjusted revenue per ADS was 20.72 yuan, far exceeding market expectations of 10.54 yuan. After the results were announced, several investment banks raised Pinduoduo's target prices. Among them: - UBS raised Pinduoduo's target price from $248 to $272, maintaining the “buy” rating; - Damo said Pinduoduo's first quarter performance was strong, believing that Pinduoduo is currently undervalued, raising its target price from $181 to $220, and the rating was “overheld”; - Xiaomo raised Pinduoduo's target price to $220, confirming the “increase” rating; - China Merchants Securities raised Pinduoduo's target price to $211 to maintain the “increase” rating; - Lyon claimed that Pinduoduo won the first quarter's performance It is expected to raise its target price from $180 to $190, maintaining a “buy” rating.
美股异动丨拼多多盘前再涨1.5%，超预期业绩发布后获多家大行上调目标价
Changes in US stocks 丨 Pinduoduo rose another 1.5% before the market, and many major banks raised their target prices after the release of results that exceeded expectations
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