Nomura began coverage on shares of Pinduoduo (NASDAQ:PDD) in a research report report published on Wednesday, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $34.00 price objective on the stock.
PDD has been the topic of a number of other reports. Zacks Investment Research raised Pinduoduo from a hold rating to a buy rating and set a $37.00 target price on the stock in a report on Saturday, October 5th. JPMorgan Chase & Co. started coverage on Pinduoduo in a report on Tuesday, July 9th. They issued an underweight rating and a $20.48 price objective on the stock. Benchmark upped their price objective on Pinduoduo from $28.00 to $39.00 and gave the company a buy rating in a report on Thursday, August 22nd. Credit Suisse Group lowered Pinduoduo from an outperform rating to a neutral rating in a report on Tuesday, July 16th. Finally, Jefferies Financial Group started coverage on Pinduoduo in a report on Monday, August 5th. They issued a buy rating and a $26.90 price objective on the stock. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Pinduoduo has an average rating of Hold and a consensus price target of $32.51.
Shares of PDD stock traded up $0.20 during trading on Wednesday, reaching $31.98. 48,181 shares of the company’s stock were exchanged, compared to its average volume of 7,529,396. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $35.28 billion, a PE ratio of -15.98 and a beta of 1.41. Pinduoduo has a twelve month low of $16.53 and a twelve month high of $36.89. The firm’s fifty day moving average price is $32.83 and its 200-day moving average price is $24.49.
Pinduoduo (NASDAQ:PDD) last posted its earnings results on Wednesday, August 21st. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.13. The business had revenue of $7.29 billion for the quarter, compared to analyst estimates of $6.15 billion. Pinduoduo had a negative return on equity of 28.55% and a negative net margin of 30.74%. Pinduoduo’s revenue was up 169.1% compared to the same quarter last year. As a group, analysts anticipate that Pinduoduo will post -0.62 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in PDD. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Pinduoduo by 12.1% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 5,200 shares of the company’s stock valued at $129,000 after buying an additional 561 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Pinduoduo by 8.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 17,460 shares of the company’s stock valued at $433,000 after buying an additional 1,427 shares during the period. Comerica Bank increased its stake in shares of Pinduoduo by 4.5% in the second quarter. Comerica Bank now owns 37,164 shares of the company’s stock valued at $742,000 after buying an additional 1,589 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Pinduoduo by 2.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 136,500 shares of the company’s stock valued at $2,816,000 after buying an additional 3,540 shares during the period. Finally, Aviva PLC increased its stake in shares of Pinduoduo by 8.7% in the second quarter. Aviva PLC now owns 58,500 shares of the company’s stock valued at $1,207,000 after buying an additional 4,700 shares during the period. Hedge funds and other institutional investors own 13.00% 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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