Jefferies Financial Group assumed coverage on shares of Pinduoduo (NASDAQ:PDD) in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $30.00 price target on the stock. Jefferies Financial Group also issued estimates for Pinduoduo’s Q1 2019 earnings at ($0.35) EPS, FY2019 earnings at ($0.67) EPS, FY2020 earnings at $0.28 EPS and FY2021 earnings at $1.24 EPS.
Other equities analysts have also recently issued reports about the company. Morgan Stanley assumed coverage on Pinduoduo in a research note on Wednesday, January 16th. They set an overweight rating and a $29.00 price objective on the stock. ValuEngine cut Pinduoduo from a buy rating to a hold rating in a research note on Wednesday, February 20th. HSBC assumed coverage on Pinduoduo in a research note on Friday, February 1st. They set a hold rating on the stock. Finally, UBS Group assumed coverage on Pinduoduo in a research note on Wednesday, March 6th. They set a buy rating and a $37.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $30.98.
Shares of PDD opened at $23.02 on Monday. Pinduoduo has a 12-month low of $16.53 and a 12-month high of $31.99. The firm has a market cap of $24.93 billion and a P/E ratio of -11.51.
Pinduoduo (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.03). Pinduoduo had a negative return on equity of 114.98% and a negative net margin of 78.51%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.31 billion. The business’s revenue was up 379.4% compared to the same quarter last year. On average, analysts predict that Pinduoduo will post -0.46 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of PDD. Vanguard Group Inc acquired a new stake in Pinduoduo in the third quarter worth $72,991,000. Vanguard Group Inc. acquired a new stake in Pinduoduo in the third quarter worth $72,991,000. JPMorgan Chase & Co. acquired a new stake in Pinduoduo in the third quarter worth $57,806,000. Hillhouse Capital Advisors Ltd. acquired a new stake in Pinduoduo in the fourth quarter worth $38,823,000. Finally, TB Alternative Assets Ltd. increased its position in Pinduoduo by 423.7% in the fourth quarter. TB Alternative Assets Ltd. now owns 1,854,562 shares of the company’s stock worth $41,616,000 after buying an additional 1,500,462 shares during the period. 6.76% of the stock is currently owned by hedge funds and other institutional investors.
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.
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