Pony AI (NASDAQ:PONY) Coverage Initiated at UBS Group

Key Points

• UBS Group initiated coverage of Pony AI with a "buy" rating and a price target of $20, suggesting a potential upside of 53.37% from the current stock price.
• Pony AI's stock has recently fallen by 3.0%, with a current price of $13.04 and a one-year range between $4.11 and $23.88.
• Several hedge funds, including Toyota Motor Corp and Ontario Teachers Pension Plan, have made significant new investments in Pony AI, indicating growing interest in the company.

UBS Group assumed coverage on shares of Pony AI (NASDAQ:PONY - Get Free Report) in a report issued on Monday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $20.00 price target on the stock. UBS Group's price objective points to a potential upside of 53.37% from the stock's current price.

A number of other analysts have also recently issued reports on the company. Daiwa America raised Pony AI to a "strong-buy" rating in a report on Sunday, July 27th. Daiwa Capital Markets started coverage on Pony AI in a research note on Sunday, July 27th. They issued an "outperform" rating on the stock. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $19.40.

Pony AI Stock Down 3.0%

Shares of NASDAQ PONY opened at $13.04 on Monday. Pony AI has a one year low of $4.11 and a one year high of $23.88. The business's fifty day moving average price is $13.80 and its 200-day moving average price is $12.98.

Pony AI (NASDAQ:PONY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported ($0.12) EPS for the quarter. The firm had revenue of $13.98 million during the quarter. As a group, equities analysts anticipate that Pony AI will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Pony AI

A number of hedge funds have recently added to or reduced their stakes in the company. Toyota Motor Corp bought a new stake in shares of Pony AI during the 4th quarter valued at $647,421,000. Ontario Teachers Pension Plan Board purchased a new stake in Pony AI in the 4th quarter worth $310,559,000. TMT General Partner Ltd purchased a new stake in shares of Pony AI during the 2nd quarter valued at about $71,903,000. Aspex Management HK Ltd purchased a new stake in shares of Pony AI during the 4th quarter valued at about $34,091,000. Finally, Carlyle Group Inc. bought a new position in Pony AI during the 4th quarter valued at about $33,901,000.

About Pony AI

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.

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