Pinduoduo Inc. (NASDAQ:PDD) Receives Average Rating of “Buy” from Brokerages

Pinduoduo Inc. (NASDAQ:PDDGet Rating) has been assigned an average rating of “Buy” from the sixteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $84.64.

Several equities research analysts have issued reports on the stock. 86 Research upgraded shares of Pinduoduo from a “hold” rating to a “buy” rating in a research note on Friday, April 29th. CLSA lowered their price target on shares of Pinduoduo from $100.00 to $81.00 in a research note on Tuesday, March 22nd. Barclays lowered their price objective on shares of Pinduoduo from $71.00 to $41.00 in a research note on Wednesday, March 23rd. UBS Group upgraded shares of Pinduoduo from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 23rd. Finally, Zacks Investment Research lowered shares of Pinduoduo from a “hold” rating to a “sell” rating in a research note on Wednesday, March 23rd.

Shares of NASDAQ PDD opened at $40.45 on Tuesday. The company’s fifty day moving average is $40.92 and its 200-day moving average is $53.45. The stock has a market cap of $50.11 billion, a price-to-earnings ratio of 49.33 and a beta of 1.19. Pinduoduo has a twelve month low of $23.21 and a twelve month high of $143.11. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.16.

Pinduoduo (NASDAQ:PDDGet Rating) last issued its quarterly earnings data on Monday, March 21st. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.72. Pinduoduo had a net margin of 8.40% and a return on equity of 15.76%. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the business posted ($0.17) earnings per share. On average, research analysts anticipate that Pinduoduo will post 1.31 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Shelton Capital Management boosted its stake in shares of Pinduoduo by 11.0% in the 3rd quarter. Shelton Capital Management now owns 31,276 shares of the company’s stock valued at $2,836,000 after purchasing an additional 3,104 shares during the last quarter. Tiger Management L.L.C. lifted its stake in shares of Pinduoduo by 18.6% in the third quarter. Tiger Management L.L.C. now owns 16,600 shares of the company’s stock valued at $1,505,000 after buying an additional 2,600 shares in the last quarter. First Republic Investment Management Inc. lifted its stake in shares of Pinduoduo by 36.9% in the third quarter. First Republic Investment Management Inc. now owns 12,976 shares of the company’s stock valued at $1,177,000 after buying an additional 3,496 shares in the last quarter. MARSHALL WACE ASIA Ltd lifted its stake in shares of Pinduoduo by 1,509.6% in the third quarter. MARSHALL WACE ASIA Ltd now owns 1,059,333 shares of the company’s stock valued at $96,049,000 after buying an additional 993,521 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Pinduoduo in the third quarter valued at about $31,311,000. 21.84% of the stock is currently owned by institutional investors.

About Pinduoduo (Get Rating)

Pinduoduo Inc, through its subsidiaries, operates an e-commerce platform in the People's Republic of China. It operates Pinduoduo, a mobile platform that offers a range of products, including apparel, shoes, bags, mother and childcare products, food and beverages, fresh produce, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness items, and auto accessories.

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