Pinduoduo (NASDAQ:PDD) Upgraded at TheStreet

Pinduoduo (NASDAQ:PDDGet Rating) was upgraded by analysts at TheStreet from a “d+” rating to a “c” rating in a research report issued on Tuesday, TheStreetRatingsTable reports.

PDD has been the subject of several other research reports. JPMorgan Chase & Co. raised shares of Pinduoduo from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $27.00 to $55.00 in a report on Monday, May 16th. CLSA decreased their price target on shares of Pinduoduo from $100.00 to $81.00 in a research note on Tuesday, March 22nd. Nomura Instinet reiterated a “neutral” rating and issued a $48.00 price target (down previously from $95.00) on shares of Pinduoduo in a research note on Tuesday, March 22nd. UBS Group upgraded shares of Pinduoduo from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 23rd. Finally, Citigroup boosted their price target on shares of Pinduoduo from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $75.82.

Shares of PDD opened at $49.00 on Tuesday. The firm has a market cap of $60.70 billion, a PE ratio of 33.33 and a beta of 1.17. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $41.10 and a two-hundred day simple moving average of $51.83. Pinduoduo has a 1-year low of $23.21 and a 1-year high of $140.11.

Pinduoduo (NASDAQ:PDDGet Rating) last announced its earnings results on Friday, May 27th. The company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $2.68. Pinduoduo had a net margin of 13.91% and a return on equity of 23.30%. During the same quarter last year, the firm posted ($0.36) earnings per share. As a group, research analysts forecast that Pinduoduo will post 1.31 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in Pinduoduo by 1.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 398,148 shares of the company’s stock valued at $15,970,000 after acquiring an additional 4,500 shares during the last quarter. Toroso Investments LLC raised its stake in shares of Pinduoduo by 2.7% during the 1st quarter. Toroso Investments LLC now owns 231,670 shares of the company’s stock worth $9,292,000 after buying an additional 6,076 shares in the last quarter. Wahed Invest LLC acquired a new stake in shares of Pinduoduo in the 1st quarter worth approximately $70,000. Altimeter Capital Management LP grew its holdings in shares of Pinduoduo by 150.0% in the 1st quarter. Altimeter Capital Management LP now owns 500,000 shares of the company’s stock worth $20,055,000 after acquiring an additional 300,000 shares during the period. Finally, Sylebra Capital Ltd grew its holdings in shares of Pinduoduo by 10.7% in the 1st quarter. Sylebra Capital Ltd now owns 990,577 shares of the company’s stock worth $39,732,000 after acquiring an additional 95,861 shares during the period. 21.84% of the stock is owned by institutional investors and hedge funds.

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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