Analysts at Benchmark began coverage on shares of Pinduoduo (NASDAQ:PDD) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $28.00 price target on the stock. Benchmark’s price objective would suggest a potential upside of 36.52% from the company’s current price.
Several other equities analysts have also recently commented on the company. Zacks Investment Research cut Pinduoduo from a “hold” rating to a “sell” rating in a report on Saturday, May 25th. 86 Research started coverage on Pinduoduo in a report on Tuesday, May 7th. They issued a “hold” rating and a $23.74 target price for the company. KeyCorp started coverage on Pinduoduo in a report on Tuesday, April 16th. They issued an “overweight” rating and a $32.00 target price for the company. Jefferies Financial Group started coverage on Pinduoduo in a report on Monday, April 15th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Bank of America started coverage on Pinduoduo in a report on Wednesday, May 15th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $29.71.
Shares of PDD stock opened at $20.51 on Thursday. Pinduoduo has a 1-year low of $16.53 and a 1-year high of $31.99. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01. The firm has a market cap of $22.61 billion and a PE ratio of -10.26.
Pinduoduo (NASDAQ:PDD) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. Pinduoduo had a negative return on equity of 76.66% and a negative net margin of 73.90%. The business had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.11 billion. The company’s quarterly revenue was up 228.3% compared to the same quarter last year. On average, equities research analysts anticipate that Pinduoduo will post -0.73 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of PDD. TIAA CREF Investment Management LLC bought a new position in Pinduoduo in the 3rd quarter valued at $8,012,000. Enlightenment Research LLC bought a new position in Pinduoduo in the 4th quarter valued at $54,000. Penserra Capital Management LLC bought a new position in Pinduoduo in the 4th quarter valued at $4,988,000. Mackenzie Financial Corp bought a new position in Pinduoduo in the 4th quarter valued at $610,000. Finally, First Trust Advisors LP boosted its position in Pinduoduo by 866.2% in the 4th quarter. First Trust Advisors LP now owns 216,524 shares of the company’s stock valued at $4,859,000 after buying an additional 194,113 shares during the last quarter. 10.40% of the stock is owned by institutional investors and hedge funds.
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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