Shares of Pinduoduo Inc. (NASDAQ:PDD) have earned an average recommendation of “Buy” from the nineteen ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $157.53.
PDD has been the subject of several research reports. Citigroup decreased their price target on shares of Pinduoduo from $190.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, May 27th. Daiwa Capital Markets assumed coverage on shares of Pinduoduo in a report on Wednesday, May 5th. They set a “buy” rating and a $180.00 price target for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell dropped their price target on shares of Pinduoduo from $190.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, May 27th. Benchmark boosted their price objective on Pinduoduo from $150.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, March 18th. Finally, Zacks Investment Research cut Pinduoduo from a “hold” rating to a “sell” rating in a research report on Wednesday, May 19th.
A number of hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its holdings in Pinduoduo by 5.9% in the 1st quarter. Baillie Gifford & Co. now owns 26,867,200 shares of the company’s stock valued at $3,596,980,000 after acquiring an additional 1,497,750 shares in the last quarter. FMR LLC increased its stake in Pinduoduo by 19.0% in the fourth quarter. FMR LLC now owns 16,312,444 shares of the company’s stock valued at $2,898,231,000 after acquiring an additional 2,605,466 shares during the period. Morgan Stanley raised its holdings in shares of Pinduoduo by 7.3% in the 1st quarter. Morgan Stanley now owns 5,663,032 shares of the company’s stock worth $758,168,000 after buying an additional 387,647 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Pinduoduo by 150.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 4,394,853 shares of the company’s stock valued at $780,833,000 after buying an additional 2,641,053 shares in the last quarter. Finally, Norges Bank bought a new stake in Pinduoduo in the fourth quarter valued at $659,086,000. 19.74% of the stock is currently owned by institutional investors and hedge funds.
Pinduoduo (NASDAQ:PDD) last announced its quarterly earnings data on Tuesday, May 25th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.84). Pinduoduo had a negative return on equity of 20.06% and a negative net margin of 11.75%. On average, sell-side analysts predict that Pinduoduo will post -1.21 earnings per share for the current year.
Pinduoduo Inc, through its subsidiaries, operates an e-commerce platform in the People's Republic of China. It operates Pinduoduo, a mobile platform that offers a range of products, including apparel, shoes, bags, mother and childcare products, food and beverage, fresh produce, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness items, and auto accessories.
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