Pony AI (NASDAQ:PONY) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Pony AI (NASDAQ:PONY) announced its earnings results on Tuesday. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.03, FiscalAI reports. Pony AI had a negative return on equity of 19.90% and a negative net margin of 148.85%.The business had revenue of $34.25 million during the quarter, compared to analysts’ expectations of $22.30 million.

Pony AI Price Performance

Shares of NASDAQ PONY opened at $8.92 on Tuesday. Pony AI has a 12 month low of $7.99 and a 12 month high of $24.92. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -24.78 and a beta of 4.10. The business has a fifty day simple moving average of $9.91 and a 200-day simple moving average of $12.83.

Analyst Upgrades and Downgrades

PONY has been the subject of several research reports. The Goldman Sachs Group set a $30.00 target price on Pony AI in a research note on Thursday, April 16th. Barclays decreased their target price on Pony AI from $15.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, March 30th. HSBC initiated coverage on Pony AI in a research note on Tuesday, March 31st. They set a “buy” rating and a $16.60 target price for the company. BNP Paribas Exane initiated coverage on Pony AI in a research note on Thursday, March 26th. They set a “neutral” rating and a $12.50 target price for the company. Finally, Zacks Research cut Pony AI from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.58.

Institutional Investors Weigh In On Pony AI

Several hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Pony AI during the third quarter valued at $89,174,000. Tiger Global Management LLC lifted its holdings in shares of Pony AI by 683.8% during the fourth quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock valued at $42,050,000 after purchasing an additional 2,530,000 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Pony AI by 31.0% during the fourth quarter. Wellington Management Group LLP now owns 2,840,863 shares of the company’s stock valued at $41,193,000 after purchasing an additional 671,606 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of Pony AI by 10.8% during the fourth quarter. Bamco Inc. NY now owns 2,586,581 shares of the company’s stock valued at $37,505,000 after purchasing an additional 251,235 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Pony AI by 239.6% during the fourth quarter. Marshall Wace LLP now owns 2,502,711 shares of the company’s stock valued at $36,289,000 after purchasing an additional 1,765,718 shares during the last quarter.

About Pony AI

Pony.ai develops autonomous driving technologies for passenger and goods transportation. The company offers an end-to-end self-driving stack that combines perception, planning and control systems with proprietary hardware and software. Pony.ai’s solutions support robotaxi services and advanced driver-assistance system (ADAS) deployments across urban and suburban environments.

Founded in late 2016 by James Peng and Sean Gong, Pony.ai operates research and development centers in Fremont, California, as well as in Guangzhou and Beijing, China.