Pinduoduo Inc (NASDAQ:PDD) – Equities research analysts at KeyCorp raised their Q2 2020 earnings per share (EPS) estimates for Pinduoduo in a report issued on Monday, July 13th. KeyCorp analyst H. Chung now forecasts that the company will earn ($0.11) per share for the quarter, up from their previous forecast of ($0.12). KeyCorp has a “Overweight” rating and a $100.00 price objective on the stock. KeyCorp also issued estimates for Pinduoduo’s Q3 2020 earnings at ($0.12) EPS, Q4 2020 earnings at ($0.04) EPS, FY2020 earnings at ($0.76) EPS, Q1 2021 earnings at ($0.16) EPS and Q2 2021 earnings at $0.20 EPS.
Several other equities analysts have also issued reports on the company. Jefferies Financial Group lowered Pinduoduo from a “buy” rating to a “hold” rating and set a $62.50 price target on the stock. in a research note on Monday, May 25th. TheStreet raised Pinduoduo from a “d+” rating to a “c” rating in a research note on Monday, April 13th. Macquarie upped their price target on Pinduoduo from $90.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, June 24th. Credit Suisse Group raised Pinduoduo from a “neutral” rating to an “outperform” rating and set a $52.50 target price on the stock in a research note on Monday, April 20th. Finally, Sanford C. Bernstein began coverage on Pinduoduo in a research note on Monday, June 8th. They issued an “outperform” rating and a $89.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $68.58.
Shares of PDD opened at $85.30 on Thursday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.27. Pinduoduo has a 12-month low of $19.30 and a 12-month high of $98.96. The firm has a market capitalization of $97.28 billion, a PE ratio of -77.54 and a beta of 1.36. The stock’s fifty day simple moving average is $79.36 and its 200-day simple moving average is $50.99.
Pinduoduo (NASDAQ:PDD) last posted its quarterly earnings data on Friday, May 22nd. The company reported ($2.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($2.39). Pinduoduo had a negative return on equity of 37.60% and a negative net margin of 28.48%. The business had revenue of $6.54 billion during the quarter, compared to analyst estimates of $5.21 billion. During the same period in the prior year, the firm posted ($0.20) EPS. Pinduoduo’s revenue for the quarter was up 43.9% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the business. Credit Agricole S A bought a new position in shares of Pinduoduo in the 1st quarter valued at $36,000. TRUE Private Wealth Advisors bought a new position in shares of Pinduoduo in the 2nd quarter valued at $42,000. Panagora Asset Management Inc. increased its stake in shares of Pinduoduo by 104.4% in the 4th quarter. Panagora Asset Management Inc. now owns 1,983 shares of the company’s stock valued at $75,000 after purchasing an additional 1,013 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Pinduoduo in the 2nd quarter valued at $137,000. Finally, Creative Planning bought a new stake in Pinduoduo during the 1st quarter worth $203,000. Hedge funds and other institutional investors own 20.03% of the company’s stock.
Pinduoduo Company Profile
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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