Several other research firms also recently commented on PDD. New Street Research began coverage on shares of Pinduoduo in a research report on Thursday, June 20th. They set a buy rating for the company. Macquarie assumed coverage on shares of Pinduoduo in a research report on Friday, July 5th. They issued an outperform rating and a $30.00 price objective for the company. 86 Research reaffirmed a sell rating on shares of Pinduoduo in a research report on Tuesday, August 6th. Benchmark assumed coverage on shares of Pinduoduo in a research report on Thursday, June 13th. They issued a buy rating and a $28.00 price objective for the company. Finally, Credit Suisse Group downgraded shares of Pinduoduo from an outperform rating to a neutral rating in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $30.09.
NASDAQ:PDD opened at $30.59 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a 50-day moving average of $22.03 and a 200-day moving average of $23.27. The company has a market cap of $33.89 billion and a PE ratio of -15.30. Pinduoduo has a one year low of $16.53 and a one year high of $31.99.
Pinduoduo (NASDAQ:PDD) last posted its earnings results on Wednesday, August 21st. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.13. The company had revenue of $7.29 billion during the quarter, compared to the consensus estimate of $6.15 billion. Pinduoduo had a negative net margin of 73.90% and a negative return on equity of 76.66%. Pinduoduo’s revenue was up 169.1% on a year-over-year basis. On average, equities research analysts expect that Pinduoduo will post -0.78 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of PDD. Xact Kapitalforvaltning AB purchased a new position in Pinduoduo in the second quarter valued at about $1,238,000. BlackRock Inc. boosted its stake in Pinduoduo by 5.1% in the fourth quarter. BlackRock Inc. now owns 89,136 shares of the company’s stock valued at $2,001,000 after acquiring an additional 4,287 shares during the last quarter. Gulf International Bank UK Ltd purchased a new position in Pinduoduo in the first quarter valued at about $719,000. Bank of America Corp DE boosted its stake in Pinduoduo by 26.2% in the fourth quarter. Bank of America Corp DE now owns 144,241 shares of the company’s stock valued at $3,237,000 after acquiring an additional 29,908 shares during the last quarter. Finally, Krane Funds Advisors LLC boosted its stake in Pinduoduo by 8.7% in the first quarter. Krane Funds Advisors LLC now owns 3,116,352 shares of the company’s stock valued at $77,286,000 after acquiring an additional 249,951 shares during the last quarter. 12.22% of the stock is owned by institutional investors and hedge funds.
Pinduoduo Company Profile
Pinduoduo Inc operates an e-commerce platform in the People's Republic of China. It also operates Pinduoduo, a mobile platform that offers a range of priced merchandise. The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc in July 2018. Pinduoduo Inc was founded in 2015 and is based in Shanghai, the People's Republic of China.
Recommended Story: The components of the Stochastic Momentum Index
Receive News & Ratings for Pinduoduo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinduoduo and related companies with MarketBeat.com's FREE daily email newsletter.