A number of firms have modified their ratings and price targets on shares of Pinduoduo (NASDAQ: PDD) recently:

  • 5/15/2019 – Pinduoduo is now covered by analysts at Bank of America Corp. They set a “buy” rating on the stock.
  • 5/7/2019 – Pinduoduo was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Pinduoduo Inc. provides an e-commerce platform allowing users to participate in group buying deals, primarily through Tencent’s Wechat app. Pinduoduo Inc. is based in Shanghai, China. “
  • 5/7/2019 – Pinduoduo is now covered by analysts at 86 Research. They set a “hold” rating and a $23.74 price target on the stock.
  • 5/1/2019 – Pinduoduo was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Pinduoduo Inc. provides an e-commerce platform allowing users to participate in group buying deals, primarily through Tencent’s Wechat app. Pinduoduo Inc. is based in Shanghai, China. “
  • 4/16/2019 – Pinduoduo is now covered by analysts at KeyCorp. They set an “overweight” rating and a $32.00 price target on the stock.
  • 4/15/2019 – Pinduoduo is now covered by analysts at Jefferies Financial Group Inc. They set a “buy” rating and a $30.00 price target on the stock.

Pinduoduo stock opened at $22.15 on Thursday. Pinduoduo Inc has a 12-month low of $16.53 and a 12-month high of $31.99. The stock has a market capitalization of $22.99 billion and a P/E ratio of -11.08.

Pinduoduo (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.03). Pinduoduo had a negative net margin of 78.51% and a negative return on equity of 114.98%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.31 billion. The firm’s revenue for the quarter was up 379.4% compared to the same quarter last year. On average, research analysts predict that Pinduoduo Inc will post -0.71 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new position in shares of Pinduoduo during the 1st quarter worth about $35,000. Enlightenment Research LLC acquired a new position in shares of Pinduoduo during the 4th quarter worth about $54,000. Quadrant Capital Group LLC acquired a new position in shares of Pinduoduo during the 1st quarter worth about $66,000. Atlas Capital Advisors LLC acquired a new position in shares of Pinduoduo during the 1st quarter worth about $87,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Pinduoduo during the 1st quarter worth about $102,000. Hedge funds and other institutional investors own 7.00% of the company’s stock.

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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