Pinduoduo (NASDAQ:PDD) PT Raised to $116.00

Pinduoduo (NASDAQ:PDD) had its target price hoisted by Macquarie from $90.00 to $116.00 in a research report sent to investors on Wednesday morning, The Fly reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. KeyCorp raised their price objective on shares of Pinduoduo from $65.00 to $84.00 and gave the stock an overweight rating in a research report on Tuesday, May 26th. CLSA raised their price objective on shares of Pinduoduo from $46.50 to $72.00 and gave the stock a buy rating in a research report on Friday, May 22nd. Citigroup downgraded shares of Pinduoduo from a buy rating to a neutral rating and cut their price objective for the stock from $43.00 to $38.00 in a research report on Wednesday, March 11th. Goldman Sachs Group downgraded shares of Pinduoduo from a buy rating to a neutral rating and set a $62.70 price objective for the company. in a research report on Sunday, May 24th. Finally, Benchmark raised their price objective on shares of Pinduoduo from $38.00 to $76.00 and gave the stock a buy rating in a research report on Tuesday, May 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $64.57.

Shares of NASDAQ PDD opened at $85.16 on Wednesday. The stock has a market capitalization of $95.80 billion, a price-to-earnings ratio of -77.42 and a beta of 1.33. The business has a 50-day moving average of $68.86 and a 200-day moving average of $46.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.50 and a quick ratio of 1.50. Pinduoduo has a fifty-two week low of $19.10 and a fifty-two week high of $89.25.

Pinduoduo (NASDAQ:PDD) last announced its quarterly earnings data on Friday, May 22nd. The company reported ($2.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($2.39). The company had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $5.21 billion. Pinduoduo had a negative net margin of 28.48% and a negative return on equity of 37.60%. Pinduoduo’s revenue was up 43.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.20) EPS. On average, sell-side analysts expect that Pinduoduo will post -0.91 EPS for the current year.

Several institutional investors have recently modified their holdings of the stock. First Trust Advisors LP lifted its holdings in Pinduoduo by 27.5% in the first quarter. First Trust Advisors LP now owns 241,346 shares of the company’s stock valued at $8,696,000 after buying an additional 52,055 shares during the period. Nuveen Asset Management LLC lifted its holdings in Pinduoduo by 8.4% in the first quarter. Nuveen Asset Management LLC now owns 305,832 shares of the company’s stock valued at $11,019,000 after buying an additional 23,730 shares during the period. Two Sigma Advisers LP lifted its holdings in Pinduoduo by 57.0% in the first quarter. Two Sigma Advisers LP now owns 401,000 shares of the company’s stock valued at $14,448,000 after buying an additional 145,600 shares during the period. KBC Group NV lifted its holdings in Pinduoduo by 359.5% in the first quarter. KBC Group NV now owns 26,151 shares of the company’s stock valued at $942,000 after buying an additional 20,460 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in Pinduoduo by 14.0% in the first quarter. Parametric Portfolio Associates LLC now owns 134,958 shares of the company’s stock valued at $4,863,000 after buying an additional 16,625 shares during the period. 20.05% of the stock is currently owned by institutional investors.

About Pinduoduo

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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