Research analysts at Macquarie started coverage on shares of Pinduoduo (NASDAQ:PDD) in a report issued on Friday, Marketbeat reports. The brokerage set an “outperform” rating and a $30.00 price target on the stock. Macquarie’s target price indicates a potential upside of 47.86% from the company’s current price.
A number of other equities analysts have also commented on PDD. Zacks Investment Research lowered shares of Pinduoduo from a “buy” rating to a “hold” rating in a report on Friday, June 28th. Jefferies Financial Group assumed coverage on shares of Pinduoduo in a research note on Monday, April 15th. They issued a “buy” rating and a $30.00 target price on the stock. KeyCorp assumed coverage on shares of Pinduoduo in a research note on Tuesday, April 16th. They issued an “overweight” rating and a $32.00 target price on the stock. Bank of America assumed coverage on shares of Pinduoduo in a research note on Wednesday, May 15th. They issued a “buy” rating on the stock. Finally, Benchmark assumed coverage on shares of Pinduoduo in a research note on Thursday, June 13th. They issued a “buy” rating and a $28.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.06. Get Pinduoduo alerts:
Shares of PDD stock opened at $20.29 on Friday. Pinduoduo has a 12 month low of $16.53 and a 12 month high of $31.99. 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 market cap of $22.26 billion and a price-to-earnings ratio of -10.15. The business has a fifty day moving average price of $20.43. Pinduoduo (NASDAQ:PDD) last issued its quarterly earnings data on Monday, May 20th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. Pinduoduo had a negative net margin of 73.90% and a negative return on equity of 76.66%. The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.11 billion. The company’s quarterly revenue was up 228.3% compared to the same quarter last year. Research analysts predict that Pinduoduo will post -0.73 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of PDD. FMR LLC grew its position in shares of Pinduoduo by 79.0% during the 1st quarter. FMR LLC now owns 9,991,307 shares of the company’s stock valued at $247,785,000 after buying an additional 4,408,544 shares during the last quarter. Greenwoods Asset Management Ltd grew its position in shares of Pinduoduo by 17.7% during the 1st quarter. Greenwoods Asset Management Ltd now owns 4,077,625 shares of the company’s stock valued at $101,125,000 after buying an additional 611,976 shares during the last quarter. Krane Funds Advisors LLC grew its position in shares of Pinduoduo by 8.7% during the 1st quarter. Krane Funds Advisors LLC now owns 3,116,352 shares of the company’s stock valued at $77,286,000 after buying an additional 249,951 shares during the last quarter. MARSHALL WACE ASIA Ltd grew its position in shares of Pinduoduo by 24,995.7% during the 1st quarter. MARSHALL WACE ASIA Ltd now owns 2,876,721 shares of the company’s stock valued at $71,342,000 after buying an additional 2,865,258 shares during the last quarter. Finally, Altimeter Capital Management LP grew its position in shares of Pinduoduo by 2.9% during the 4th quarter. Altimeter Capital Management LP now owns 2,486,288 shares of the company’s stock valued at $55,792,000 after buying an additional 70,929 shares during the last quarter. Institutional investors and hedge funds own 10.37% of the company’s stock.
About Pinduoduo
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.
