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

Pony AI (NASDAQ:PONY) had its target price reduced by equities researchers at Citigroup from $29.00 to $24.50 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 74.50% from the stock’s current price.

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

Pony AI Trading Down 5.3%

PONY stock opened at $14.04 on Friday. Pony AI has a 1-year low of $4.11 and a 1-year high of $24.92. The firm has a market cap of $4.92 billion and a PE ratio of -11.23. The business’s 50-day moving average price is $18.91 and its two-hundred day moving average price is $15.75.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Pony AI by 103.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock worth $47,000 after purchasing an additional 62,748 shares during the last quarter. Affinity Wealth Management LLC acquired a new position in Pony AI during the third quarter worth $5,614,000. Profund Advisors LLC acquired a new position in Pony AI during the third quarter worth $238,000. SBI Securities Co. Ltd. raised its position in Pony AI by 29.7% during the third quarter. SBI Securities Co. Ltd. now owns 19,875 shares of the company’s stock worth $447,000 after acquiring an additional 4,546 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in Pony AI in the third quarter valued at $543,000.

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.