Shares of Pinduoduo (NASDAQ: PDD) dropped by more than 10% in pre-market trading on Monday after the social commerce platform with a special focus on agriculture reported adjusted earnings of $1.21 per diluted ADS in the fourth quarter and fell short of analysts’ estimates of $1.24 per ADS.
The company’s total revenues soared 46% year-over-year to $5.77 billion but still missed analysts’ expectations of $6.04 billion.
Analysts are bullish about PDD stock with a Strong Buy consensus rating based on a unanimous eight Buys.
