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PDD Holdings (PDD) Moves 4.9% Higher: Will This Strength Last?
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PDD Holdings Inc. (PDD - Free Report) shares ended the last trading session 4.9% higher at $152.71. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 49% gain over the past four weeks.
PDD Holdings’ rally is primarily driven by optimism about the strong momentum in its Pinduoduo platform, backed by a wide range of product offerings. The company’s growing agriculture business, driven by collaborations with local communities, shops, farmers and agri-merchants, also bodes well.
This company is expected to post quarterly earnings of $2.74 per share in its upcoming report, which represents a year-over-year change of +76.8%. Revenues are expected to be $14.17 billion, up 50.2% 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. Sponsored ADR, the consensus EPS estimate for the quarter has been revised 4.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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. Sponsored ADR belongs to the Zacks Diversified Operations industry. Another stock from the same industry, Vector Group (VGR - Free Report) , closed the last trading session 0.1% higher at $14.93. Over the past month, VGR has returned -0.7%.
For Vector, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.33. This represents no change from what the company reported a year ago. Vector currently has a Zacks Rank of #3 (Hold).
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PDD Holdings (PDD) Moves 4.9% Higher: Will This Strength Last?
PDD Holdings Inc. (PDD - Free Report) shares ended the last trading session 4.9% higher at $152.71. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 49% gain over the past four weeks.
PDD Holdings’ rally is primarily driven by optimism about the strong momentum in its Pinduoduo platform, backed by a wide range of product offerings. The company’s growing agriculture business, driven by collaborations with local communities, shops, farmers and agri-merchants, also bodes well.
This company is expected to post quarterly earnings of $2.74 per share in its upcoming report, which represents a year-over-year change of +76.8%. Revenues are expected to be $14.17 billion, up 50.2% 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. Sponsored ADR, the consensus EPS estimate for the quarter has been revised 4.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
PDD Holdings Inc. Sponsored ADR belongs to the Zacks Diversified Operations industry. Another stock from the same industry, Vector Group (VGR - Free Report) , closed the last trading session 0.1% higher at $14.93. Over the past month, VGR has returned -0.7%.
For Vector, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.33. This represents no change from what the company reported a year ago. Vector currently has a Zacks Rank of #3 (Hold).