Pinduoduo (PDD) PT Set at $26.00 by Credit Suisse Group

Pinduoduo (NASDAQ:PDD) has been given a $26.00 price objective by research analysts at Credit Suisse Group in a report issued on Wednesday. The firm presently has a “buy” rating on the stock. Credit Suisse Group’s price target would indicate a potential upside of 9.89% from the stock’s previous close.

Separately, Goldman Sachs Group started coverage on shares of Pinduoduo in a research note on Thursday, September 13th. They issued a “buy” rating and a $31.90 price objective on the stock.

NASDAQ:PDD opened at $23.66 on Wednesday. Pinduoduo has a fifty-two week low of $16.53 and a fifty-two week high of $30.48.

Pinduoduo (NASDAQ:PDD) last posted its quarterly earnings results on Tuesday, November 20th. The company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.08. The company had revenue of $491.03 million for the quarter.

Large investors have recently added to or reduced their stakes in the business. Tiger Pacific Capital LP purchased a new position in Pinduoduo in the 3rd quarter valued at about $10,089,000. TB Alternative Assets Ltd. purchased a new position in shares of Pinduoduo during the 3rd quarter worth about $9,309,000. Taikang Asset Management Hong Kong Co Ltd purchased a new position in shares of Pinduoduo during the 3rd quarter worth about $9,031,000. Ariose Capital Management Ltd purchased a new position in shares of Pinduoduo during the 3rd quarter worth about $8,990,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Pinduoduo during the 3rd quarter worth about $546,000. Institutional investors own 2.72% of the company’s stock.

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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