Pinduoduo (NASDAQ:PDD) Earns “Sell” Rating from 86 Research

86 Research reissued their sell rating on shares of Pinduoduo (NASDAQ:PDD) in a report published on Tuesday morning, BenzingaRatingsTable reports.

Other equities research analysts also recently issued reports about the company. 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 for the company. Macquarie started coverage on Pinduoduo in a report on Friday, July 5th. They issued an outperform rating and a $30.00 price objective for the company. KeyCorp started coverage on Pinduoduo in a report on Tuesday, April 16th. They issued an overweight rating and a $32.00 price objective for the company. Credit Suisse Group downgraded Pinduoduo from an outperform rating to a neutral rating in a report on Tuesday, July 16th. Finally, Bank of America started coverage on Pinduoduo in a report on Wednesday, May 15th. They issued a buy rating for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $28.00.

Shares of NASDAQ:PDD traded down $0.21 on Tuesday, hitting $22.60. 5,454,368 shares of the company traded hands, compared to its average volume of 5,479,607. Pinduoduo has a 52 week low of $16.53 and a 52 week high of $31.99. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $20.88. The company has a market capitalization of $24.52 billion and a P/E ratio of -11.30.

Pinduoduo (NASDAQ:PDD) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. Pinduoduo had a negative return on equity of 76.66% and a negative net margin of 73.90%. The firm had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.11 billion. Pinduoduo’s revenue was up 228.3% compared to the same quarter last year. On average, equities analysts anticipate that Pinduoduo will post -0.71 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. purchased a new position in shares of Pinduoduo during the 1st quarter valued at about $35,000. Quadrant Capital Group LLC purchased a new position in shares of Pinduoduo during the 1st quarter valued at about $66,000. Atlas Capital Advisors LLC purchased a new position in shares of Pinduoduo during the 1st quarter valued at about $87,000. Daiwa Securities Group Inc. purchased a new position in shares of Pinduoduo during the 1st quarter valued at about $102,000. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in shares of Pinduoduo by 12.1% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 10.92% 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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Analyst Recommendations for Pinduoduo (NASDAQ:PDD)

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