Pinduoduo Inc. (NASDAQ:PDD) Receives Average “Moderate Buy” Rating From Brokerages

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Pinduoduo inc. (NASDAQ:PDDGet a rating) received a consensus “moderate buy” recommendation from the fourteen ratings companies that currently cover the stock, market beat reports. Five analysts rated the stock with a hold recommendation and six gave the company a buy recommendation. The 1-year average price target among brokerages that have covered the stock over the past year is $68.80.

Several equity research analysts have recently released reports on PDD stocks. JPMorgan Chase & Co. moved Pinduoduo shares from an “underweight” rating to an “overweight” rating and raised its price target for the stock from $27.00 to $55.00 in a Monday, May 16 research report. Citigroup raised its price target on Pinduoduo shares from $61.00 to $62.00 and gave the company a “buy” rating in a Tuesday, May 31 research report. Morgan Stanley downgraded Pinduoduo shares from an “overweight” rating to an “equal weight” rating and set a target price of $70.00 for the company. in a research report on Monday, July 11. 86 Research upgraded Pinduoduo shares from a “hold” rating to a “buy” rating in a Friday, April 29 research report. Finally, Barclays raised its price target on Pinduoduo shares from $41.00 to $45.00 and gave the company an “equal weight” rating in a Wednesday, June 1 research report.

Pinduoduo stock down 2.0%

Shares of NASDAQ:PDD opened at $50.25 on Friday. The company has a 50-day moving average price of $57.03 and a two-hundred-day moving average price of $49.64. The company has a debt ratio of 0.18, a quick ratio of 1.89 and a current ratio of 1.89. Pinduoduo has a 52 week low of $23.21 and a 52 week high of $109.79. The company has a market capitalization of $62.24 billion, a PE ratio of 34.18 and a beta of 0.78.

Pinduo duo (NASDAQ:PDDGet a rating) last released its quarterly earnings data on Friday, May 27. The company reported earnings per share (EPS) of $0.30 for the quarter, beating the consensus estimate of $0.27 by $0.03. Pinduoduo achieved a net margin of 13.91% and a return on equity of 22.63%. The company posted revenue of $3.75 billion in the quarter, versus a consensus estimate of $3.32 billion. In the same quarter of the previous year, the company made earnings per share ($0.36). Analysts expect Pinduoduo to post 1.37 earnings per share for the current year.

Pinduoduo Institutional Trading

A number of large investors have recently increased or reduced their stake in PDD. Norges Bank acquired a new stake in Pinduoduo in the fourth quarter worth $266,519,000. Marshall Wace LLP increased its stake in Pinduoduo by 1,866.0% in the fourth quarter. Marshall Wace LLP now owns 2,799,219 shares of the company valued at $163,193,000 after acquiring an additional 2,656,840 shares in the last quarter. Bridgewater Associates LP increased its stake in Pinduoduo shares by 85.6% during the 1st quarter. Bridgewater Associates LP now owns 4,939,412 shares of the company worth $198,120,000 after purchasing an additional 2,277,541 shares in the last quarter. Assenagon Asset Management SA increased its stake in Pinduoduo shares by 181.9% during the 1st quarter. Assenagon Asset Management SA now owns 3,418,374 shares of the company worth $137,111,000 after purchasing an additional 2,205,548 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new equity stake in Pinduoduo during Q1 worth approximately $72,253,000. Institutional investors and hedge funds hold 21.84% of the company’s shares.

About Pinduoduo

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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 clothing, footwear, bags, mother and child products, food and beverages, fresh produce, electronics, furniture and household items, cosmetics and other personal care items, sporting and fitness items, and automotive accessories.

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