Pinduoduo (NASDAQ:PDD) Earns Underweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Pinduoduo (NASDAQ:PDD) in a research note published on Tuesday, Benzinga reports. The brokerage issued an underweight rating and a $20.48 price target on the stock.

Several other equities analysts have also recently commented on the company. Jefferies Financial Group initiated coverage on Pinduoduo in a research note on Monday, April 15th. They set a buy rating and a $30.00 target price for the company. New Street Research upgraded TIM Participacoes from a neutral rating to a buy rating in a research note on Thursday, June 20th. KeyCorp initiated coverage on Pinduoduo in a research note on Tuesday, April 16th. They set an overweight rating and a $32.00 target price for the company. Macquarie initiated coverage on Baozun in a research note on Friday, July 5th. They set a buy rating and a $60.00 target price for the company. Finally, Zacks Investment Research upgraded Booz Allen Hamilton from a hold rating to a buy rating and set a $71.00 target price for the company in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $28.28.

Shares of NASDAQ:PDD opened at $19.34 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.90 and a quick ratio of 1.90. Pinduoduo has a 52-week low of $16.53 and a 52-week high of $31.99. The firm has a 50 day moving average price of $20.21. The firm has a market capitalization of $21.98 billion and a P/E ratio of -9.67.

Pinduoduo (NASDAQ:PDD) last issued its quarterly earnings data on Monday, May 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.11 billion. The business’s revenue for the quarter 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 have recently made changes to their positions in the company. Principal Financial Group Inc. bought a new position in Pinduoduo in the 4th quarter worth approximately $17,519,000. BlackRock Inc. increased its position in Pinduoduo by 5.1% in the 4th quarter. BlackRock Inc. now owns 89,136 shares of the company’s stock worth $2,001,000 after buying an additional 4,287 shares during the period. Gulf International Bank UK Ltd bought a new position in Pinduoduo in the 1st quarter worth approximately $719,000. Bank of America Corp DE increased its position in Pinduoduo by 26.2% in the 4th quarter. Bank of America Corp DE now owns 144,241 shares of the company’s stock worth $3,237,000 after buying an additional 29,908 shares during the period. Finally, Krane Funds Advisors LLC increased its position in Pinduoduo by 8.7% in the 1st quarter. Krane Funds Advisors LLC now owns 3,116,352 shares of the company’s stock worth $77,286,000 after buying an additional 249,951 shares during the period. Institutional investors and hedge funds own 10.37% of the company’s stock.

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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Analyst Recommendations for Pinduoduo (NASDAQ:PDD)

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