Citigroup Lowers Pony AI (NASDAQ:PONY) Price Target to $24.50

Pony AI (NASDAQ:PONY) had its price target lowered by equities research analysts at Citigroup from $29.00 to $24.50 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 74.50% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pony AI in a report on Wednesday, October 8th. Daiwa Capital Markets assumed coverage on Pony AI in a research report on Sunday, July 27th. They set an “outperform” rating on the stock. Jefferies Financial Group assumed coverage on Pony AI in a research note on Friday, October 10th. They set a “buy” rating on the stock. UBS Group assumed coverage on Pony AI in a research note on Monday, August 4th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Daiwa America raised shares of Pony AI to a “strong-buy” rating in a report on Sunday, July 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.42.

Pony AI Stock Performance

PONY stock traded down $0.78 during mid-day trading on Friday, reaching $14.04. 12,142,533 shares of the stock traded hands, compared to its average volume of 7,691,930. The stock has a market capitalization of $4.92 billion and a PE ratio of -11.23. Pony AI has a one year low of $4.11 and a one year high of $24.92. The business has a 50-day moving average price of $18.91 and a two-hundred day moving average price of $15.61.

Pony AI (NASDAQ:PONY) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.14) earnings per share for the quarter. The firm had revenue of $21.45 million during the quarter. On average, equities analysts expect that Pony AI will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Pony AI

Several large investors have recently made changes to their positions in PONY. JPMorgan Chase & Co. lifted its holdings in Pony AI by 103.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock valued at $47,000 after purchasing an additional 62,748 shares in the last quarter. CWM LLC acquired a new stake in shares of Pony AI in the second quarter valued at about $28,000. Jones Financial Companies Lllp lifted its stake in shares of Pony AI by 704.8% in the third quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock worth $47,000 after buying an additional 1,924 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Pony AI during the second quarter worth about $64,000. Finally, SG Americas Securities LLC purchased a new stake in Pony AI during the 3rd quarter valued at about $116,000.

Pony AI Company Profile

Pony AI Inc, through its subsidiaries, engages in the autonomous mobility principally in the People’s Republic of China and the United States. The company provides robotruck services, such as transportation services to the logistics platforms. Pony AI Inc is based in Guangzhou, the People’s Republic of China.