Pony AI (NASDAQ:PONY) Now Covered by CLSA

CLSA assumed coverage on shares of Pony AI (NASDAQ:PONY) in a report released on Friday. The firm set an “outperform” rating and a $22.00 price target on the stock. CLSA’s price target would indicate a potential upside of 51.72% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Pony AI in a report on Friday, October 10th. They issued a “buy” rating for the company. Wall Street Zen downgraded shares of Pony AI from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Macquarie began coverage on Pony AI in a report on Monday, December 15th. They set an “outperform” rating and a $29.00 price objective on the stock. Citigroup cut their target price on Pony AI from $29.00 to $24.50 and set a “buy” rating on the stock in a research report on Friday, November 7th. Finally, Barclays started coverage on Pony AI in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Pony AI presently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Pony AI Stock Performance

PONY opened at $14.50 on Friday. Pony AI has a one year low of $4.11 and a one year high of $24.92. The company has a market cap of $5.59 billion, a P/E ratio of -10.28 and a beta of 6.41. The business’s 50-day simple moving average is $14.94 and its 200-day simple moving average is $15.62.

Institutional Investors Weigh In On Pony AI

A number of institutional investors and hedge funds have recently made changes to their positions in PONY. JPMorgan Chase & Co. grew its holdings in shares of Pony AI by 103.5% during the third quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock worth $47,000 after buying an additional 62,748 shares during the last quarter. CWM LLC acquired a new stake in Pony AI during the 2nd quarter worth approximately $28,000. Jones Financial Companies Lllp lifted its position in Pony AI by 704.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock worth $47,000 after acquiring an additional 1,924 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Pony AI in the 3rd quarter valued at approximately $50,000. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Pony AI by 71.2% in the third quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock valued at $82,000 after purchasing an additional 1,523 shares during the period.

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.