Pinduoduo (NASDAQ:PDD) had its price target hoisted by equities research analysts at KeyCorp from $45.00 to $50.00 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 26.81% from the stock’s previous close.
A number of other research analysts have also weighed in on the stock. Nomura reiterated a “hold” rating and issued a $33.00 price objective (down from $34.00) on shares of Pinduoduo in a research note on Friday, November 22nd. ValuEngine lowered shares of Pinduoduo from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Pinduoduo from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. Macquarie initiated coverage on shares of Pinduoduo in a report on Wednesday, November 27th. They issued an “outperform” rating and a $62.00 price target for the company. Finally, Credit Suisse Group raised shares of Pinduoduo from a “neutral” rating to an “outperform” rating and set a $47.50 price target for the company in a report on Sunday, January 5th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.51.
Pinduoduo stock opened at $39.43 on Tuesday. Pinduoduo has a 1-year low of $18.46 and a 1-year high of $45.25. The firm has a market capitalization of $43.92 billion, a price-to-earnings ratio of -41.07 and a beta of 1.30. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $38.41 and a 200 day simple moving average of $32.86.
Pinduoduo (NASDAQ:PDD) last released its quarterly earnings data on Wednesday, November 20th. The company reported ($1.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.33). Pinduoduo had a negative net margin of 30.59% and a negative return on equity of 32.14%. The business had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the prior year, the firm posted ($0.68) earnings per share. The firm’s quarterly revenue was up 122.8% on a year-over-year basis. On average, equities research analysts forecast that Pinduoduo will post -0.87 EPS for the current year.
A number of large investors have recently made changes to their positions in PDD. Quadrant Capital Group LLC bought a new stake in shares of Pinduoduo during the 3rd quarter worth $130,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Pinduoduo by 24.9% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 6,515 shares of the company’s stock worth $209,000 after acquiring an additional 1,300 shares during the last quarter. World Asset Management Inc bought a new stake in shares of Pinduoduo during the 3rd quarter worth $247,000. Exane Derivatives bought a new stake in shares of Pinduoduo during the 3rd quarter worth $310,000. Finally, Avitas Wealth Management LLC bought a new stake in shares of Pinduoduo during the 3rd quarter worth $377,000. 15.24% of the stock is owned by hedge funds and other institutional investors.
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.
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