Pinduoduo (NASDAQ:PDD) PT Raised to $52.00 at KeyCorp

Pinduoduo (NASDAQ:PDD) had its price objective upped by equities researchers at KeyCorp from $40.00 to $52.00 in a research note issued on Wednesday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 20.29% from the stock’s current price. KeyCorp also issued estimates for Pinduoduo’s Q3 2019 earnings at ($0.08) EPS, FY2019 earnings at ($0.52) EPS, Q1 2020 earnings at ($0.16) EPS, Q2 2020 earnings at $0.10 EPS, Q3 2020 earnings at $0.18 EPS, Q4 2020 earnings at $0.38 EPS, FY2020 earnings at $0.49 EPS, Q1 2021 earnings at $0.03 EPS, Q2 2021 earnings at $0.40 EPS, Q3 2021 earnings at $0.48 EPS and FY2021 earnings at $1.77 EPS.

Other equities research analysts have also recently issued reports about the stock. CLSA started coverage on shares of Pinduoduo in a research report on Friday, September 6th. They set a “buy” rating and a $40.00 price objective for the company. Jefferies Financial Group started coverage on shares of Pinduoduo in a research report on Monday, August 5th. They set a “buy” rating and a $26.90 price objective for the company. Zacks Investment Research cut shares of Pinduoduo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Benchmark lifted their price objective on shares of Pinduoduo from $28.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Credit Suisse Group cut shares of Pinduoduo from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $34.22.

Shares of PDD stock opened at $43.23 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.01. Pinduoduo has a 52 week low of $16.53 and a 52 week high of $45.25. The stock has a market capitalization of $48.49 billion, a PE ratio of -21.62 and a beta of 1.49. The firm has a 50 day moving average of $35.69 and a two-hundred day moving average of $26.72.

Pinduoduo (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, August 21st. The company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.13. The company had revenue of $7.29 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Pinduoduo had a negative net margin of 30.74% and a negative return on equity of 28.55%. The business’s quarterly revenue was up 169.1% compared to the same quarter last year. Analysts expect that Pinduoduo will post -0.62 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Morgan Stanley raised its stake in Pinduoduo by 1,660.1% during the 2nd quarter. Morgan Stanley now owns 8,810,263 shares of the company’s stock worth $181,756,000 after acquiring an additional 8,309,709 shares in the last quarter. Hillhouse Capital Advisors LTD. raised its stake in Pinduoduo by 129.8% during the 2nd quarter. Hillhouse Capital Advisors LTD. now owns 7,197,978 shares of the company’s stock worth $148,494,000 after acquiring an additional 4,065,882 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Pinduoduo by 146.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,473,874 shares of the company’s stock worth $92,296,000 after acquiring an additional 2,655,490 shares in the last quarter. Vanguard Group Inc. raised its stake in Pinduoduo by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,102,040 shares of the company’s stock worth $84,625,000 after acquiring an additional 26,963 shares in the last quarter. Finally, Sylebra Capital Ltd raised its stake in Pinduoduo by 210.4% during the 2nd quarter. Sylebra Capital Ltd now owns 3,501,215 shares of the company’s stock worth $72,230,000 after acquiring an additional 2,373,276 shares in the last quarter. Hedge funds and other institutional investors own 12.80% 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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