Shares of Pinduoduo Inc. (NASDAQ:PDD) have been assigned a consensus recommendation of “Buy” from the eighteen analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $159.27.
Several brokerages have recently weighed in on PDD. Zacks Investment Research upgraded Pinduoduo from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Friday, September 3rd. China Renaissance Securities upgraded Pinduoduo from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Friday, August 6th. reduced their price target on Pinduoduo from $190.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, May 27th. Bank of America increased their price target on Pinduoduo from $143.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, August 25th. Finally, Citigroup reduced their price target on Pinduoduo from $168.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, August 25th.
A number of hedge funds have recently modified their holdings of PDD. Institutional & Family Asset Management LLC acquired a new stake in shares of Pinduoduo during the 1st quarter valued at about $32,000. IFP Advisors Inc boosted its holdings in Pinduoduo by 400.0% in the 1st quarter. IFP Advisors Inc now owns 300 shares of the company’s stock worth $40,000 after buying an additional 240 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Pinduoduo by 131.6% in the 2nd quarter. Lindbrook Capital LLC now owns 315 shares of the company’s stock worth $40,000 after buying an additional 179 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Pinduoduo by 467.7% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 352 shares of the company’s stock worth $47,000 after buying an additional 290 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Pinduoduo in the 1st quarter worth about $47,000. Institutional investors own 19.82% of the company’s stock.
Pinduoduo (NASDAQ:PDD) last issued its quarterly earnings data on Monday, August 23rd. The company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $26.53 billion. The firm’s revenue for the quarter was up 89.0% on a year-over-year basis. Analysts predict that Pinduoduo will post 0.63 earnings per share for the current fiscal year.
Pinduoduo Company Profile
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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