Pinduoduo (NASDAQ:PDD) Issues Quarterly Earnings Results, Beats Expectations By $2.68 EPS

Pinduoduo (NASDAQ:PDDGet Rating) released its earnings results on Friday. The company reported $2.95 EPS for the quarter, beating the consensus estimate of $0.27 by $2.68, MarketWatch Earnings reports. Pinduoduo had a net margin of 8.40% and a return on equity of 15.76%. During the same quarter last year, the firm earned ($0.36) earnings per share.

NASDAQ PDD opened at $48.30 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a market capitalization of $59.83 billion, a price-to-earnings ratio of 32.86 and a beta of 1.19. The company’s fifty day moving average is $40.89 and its two-hundred day moving average is $52.47. Pinduoduo has a 52-week low of $23.21 and a 52-week high of $143.11.

Several analysts recently commented on PDD shares. UBS Group raised shares of Pinduoduo from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 23rd. Nomura downgraded shares of Pinduoduo from a “buy” rating to a “neutral” rating and reduced their price target for the company from $95.00 to $48.00 in a research report on Tuesday, March 22nd. Nomura Instinet restated a “neutral” rating and issued a $48.00 price target (down previously from $95.00) on shares of Pinduoduo in a research report on Tuesday, March 22nd. TheStreet downgraded shares of Pinduoduo from a “c-” rating to a “d+” rating in a research report on Monday, March 14th. Finally, Zacks Investment Research downgraded shares of Pinduoduo from a “hold” rating to a “sell” rating in a research report on Wednesday, March 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Pinduoduo presently has an average rating of “Buy” and a consensus target price of $75.36.

A number of hedge funds and other institutional investors have recently bought and sold shares of PDD. Arrowstreet Capital Limited Partnership acquired a new stake in Pinduoduo in the 1st quarter worth $72,253,000. Renaissance Technologies LLC lifted its holdings in shares of Pinduoduo by 104.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,087,700 shares of the company’s stock worth $83,738,000 after acquiring an additional 1,064,300 shares during the period. Altimeter Capital Management LP lifted its holdings in shares of Pinduoduo by 150.0% during the 1st quarter. Altimeter Capital Management LP now owns 500,000 shares of the company’s stock worth $20,055,000 after acquiring an additional 300,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Pinduoduo by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 14,124,382 shares of the company’s stock worth $566,528,000 after acquiring an additional 211,729 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Pinduoduo by 136.0% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 257,145 shares of the company’s stock worth $10,857,000 after acquiring an additional 148,166 shares during the period. Institutional investors own 21.84% of the company’s stock.

Pinduoduo Company Profile (Get Rating)

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 beverages, fresh produce, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness items, and auto accessories.

Featured Stories

Earnings History for Pinduoduo (NASDAQ:PDD)

Receive News & Ratings for Pinduoduo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinduoduo and related companies with MarketBeat.com's FREE daily email newsletter.