Pony AI (NASDAQ:PONY) Rating Increased to Hold at Wall Street Zen

Key Points

• Pony AI's stock rating has been upgraded from a "strong sell" to a "hold" by Wall Street Zen, reflecting improving analyst sentiment towards the company.
• UBS initiated coverage with a "buy" rating and a target price of $20, while Daiwa Capital Markets gave a "strong-buy" rating, contributing to an average rating of "Buy" with a consensus target price of $19.40.
• Pony AI reported a revenue of $21.45 million and an earnings per share of (−$0.14) in its latest quarterly earnings, with an expected EPS of (−$0.38) for the current fiscal year.

Wall Street Zen upgraded shares of Pony AI (NASDAQ:PONY - Free Report) from a strong sell rating to a hold rating in a report released on Saturday morning.

A number of other equities research analysts have also recently issued reports on the company. UBS Group began coverage on Pony AI in a research note on Monday, August 4th. They set a "buy" rating and a $20.00 price objective on the stock. Daiwa America raised Pony AI to a "strong-buy" rating in a report on Sunday, July 27th. Finally, Daiwa Capital Markets began coverage on Pony AI in a report on Sunday, July 27th. They set an "outperform" rating on the stock. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Pony AI currently has a consensus rating of "Buy" and an average target price of $19.40.

Pony AI Price Performance

PONY traded up $0.71 during midday trading on Friday, reaching $15.86. 7,751,706 shares of the company were exchanged, compared to its average volume of 9,380,746. Pony AI has a one year low of $4.11 and a one year high of $23.88. The stock's 50-day simple moving average is $13.44 and its 200 day simple moving average is $13.08.

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

Institutional Trading of Pony AI

Hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Pony AI by 3,136.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 632,791 shares of the company's stock worth $5,581,000 after acquiring an additional 613,238 shares during the period. Yarbrough Capital LLC lifted its holdings in Pony AI by 38.0% during the first quarter. Yarbrough Capital LLC now owns 100,001 shares of the company's stock worth $882,000 after acquiring an additional 27,538 shares during the period. Barclays PLC bought a new stake in Pony AI during the fourth quarter worth $212,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Pony AI in the first quarter valued at $293,000. Finally, Soros Fund Management LLC bought a new stake in shares of Pony AI in the fourth quarter valued at $12,718,000.

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.