Pinduoduo (NASDAQ:PDD) Shares Down 5%

Pinduoduo Inc. (NASDAQ:PDDGet Rating)’s stock price was down 5% during trading on Wednesday . The stock traded as low as $62.61 and last traded at $62.79. Approximately 76,280 shares traded hands during trading, a decline of 100% from the average daily volume of 16,935,110 shares. The stock had previously closed at $66.10.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PDD. TheStreet upgraded Pinduoduo from a “d+” rating to a “c” rating in a research note on Tuesday, May 31st. Macquarie increased their target price on Pinduoduo from $77.00 to $104.00 and gave the company an “outperform” rating in a research note on Wednesday, August 31st. Morgan Stanley lowered Pinduoduo from an “overweight” rating to an “equal weight” rating and set a $70.00 target price for the company. in a research note on Monday, July 11th. Bank of America increased their target price on Pinduoduo from $77.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, August 30th. Finally, Citigroup increased their target price on Pinduoduo from $62.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, August 30th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.73.

Pinduoduo Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.89 and a current ratio of 1.89. The business has a fifty day simple moving average of $57.73 and a 200 day simple moving average of $50.77. The company has a market cap of $78.61 billion, a P/E ratio of 29.79 and a beta of 0.61.

Pinduoduo (NASDAQ:PDDGet Rating) last released its earnings results on Monday, August 29th. The company reported $7.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $7.27. Pinduoduo had a return on equity of 29.57% and a net margin of 18.88%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter last year, the business posted $0.33 EPS. Analysts anticipate that Pinduoduo Inc. will post 2.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Regal Partners Ltd bought a new stake in shares of Pinduoduo in the 2nd quarter worth approximately $618,000. M&G Investment Management Ltd. lifted its holdings in shares of Pinduoduo by 7.3% in the 2nd quarter. M&G Investment Management Ltd. now owns 82,456 shares of the company’s stock worth $5,112,000 after purchasing an additional 5,585 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Pinduoduo by 15.3% in the 2nd quarter. Legal & General Group Plc now owns 3,625,056 shares of the company’s stock worth $224,029,000 after purchasing an additional 482,356 shares during the last quarter. National Pension Service increased its position in Pinduoduo by 1,046.8% in the 2nd quarter. National Pension Service now owns 86,402 shares of the company’s stock valued at $5,340,000 after acquiring an additional 78,868 shares during the period. Finally, Aubrey Capital Management Ltd acquired a new stake in Pinduoduo in the 2nd quarter valued at approximately $9,116,000. Institutional investors own 22.70% 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.

Further Reading

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