Pinduoduo Inc. (NASDAQ:PDD) has been given a consensus recommendation of “Buy” by the eighteen brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $159.27.
A number of research firms have recently weighed in on PDD. Zacks Investment Research raised shares of Pinduoduo from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Friday, September 3rd. Citigroup lowered their target price on shares of Pinduoduo from $168.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, August 25th. China Renaissance Securities raised Pinduoduo from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Friday, August 6th. Bank of America raised their price objective on Pinduoduo from $143.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, August 25th. Finally, TheStreet upgraded Pinduoduo from a “d” rating to a “c” rating in a research report on Monday, September 27th.
Several institutional investors have recently modified their holdings of PDD. Krane Funds Advisors LLC increased its position in Pinduoduo by 9.6% during the first quarter. Krane Funds Advisors LLC now owns 1,773,693 shares of the company’s stock worth $237,462,000 after purchasing an additional 154,829 shares during the last quarter. Geode Capital Management LLC grew its position in Pinduoduo by 19.8% during the second quarter. Geode Capital Management LLC now owns 1,727,167 shares of the company’s stock valued at $217,698,000 after acquiring an additional 285,343 shares during the period. APG Asset Management N.V. increased its stake in Pinduoduo by 79.6% during the first quarter. APG Asset Management N.V. now owns 771,669 shares of the company’s stock worth $87,902,000 after acquiring an additional 342,069 shares during the last quarter. Shelton Capital Management raised its holdings in shares of Pinduoduo by 16.3% in the 2nd quarter. Shelton Capital Management now owns 28,172 shares of the company’s stock worth $3,578,000 after purchasing an additional 3,957 shares during the period. Finally, Mission Creek Capital Partners Inc. purchased a new stake in shares of Pinduoduo during the 1st quarter worth about $9,459,000. 19.82% of the stock is currently owned by institutional investors.
Pinduoduo (NASDAQ:PDD) last posted its quarterly earnings results on Monday, August 23rd. The company reported $2.85 EPS for the quarter, beating the consensus estimate of ($0.22) by $3.07. Pinduoduo had a negative return on equity of 3.82% and a negative net margin of 3.02%. The business had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $26.53 billion. Pinduoduo’s quarterly revenue was up 89.0% compared to the same quarter last year. Analysts expect that Pinduoduo will post 0.63 EPS for the current year.
Pinduoduo, Inc operates as a holding company, which engages in the development and management of an e-commerce platform. Its Pinduoduo mobile application offers a selection of merchandise for buyer acquisition and engagement. The company was founded by Hua Lin Cai and Zheng Huang on April 20, 2015 and is headquartered in Shanghai, China.
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