Pinduoduo (NASDAQ:PDD) Shares Gap Up to $49.65

Pinduoduo Inc. (NASDAQ:PDDGet Rating) gapped up before the market opened on Thursday . The stock had previously closed at $49.65, but opened at $52.00. Pinduoduo shares last traded at $53.05, with a volume of 107,187 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley lowered Pinduoduo from an “overweight” rating to an “equal weight” rating and set a $70.00 price objective for the company. in a report on Monday, July 11th. Citigroup increased their price objective on Pinduoduo from $61.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, May 31st. 86 Research upgraded Pinduoduo from a “hold” rating to a “buy” rating in a research report on Friday, April 29th. Barclays increased their target price on Pinduoduo from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 1st. Finally, TheStreet upgraded Pinduoduo from a “d+” rating to a “c” rating in a research report on Tuesday, May 31st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.18.

Pinduoduo Stock Down 2.0 %

The stock has a 50-day moving average of $57.03 and a 200-day moving average of $49.74. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.18. The company has a market cap of $62.24 billion, a PE ratio of 34.18 and a beta of 0.78.

Pinduoduo (NASDAQ:PDDGet Rating) last released its quarterly earnings results on Friday, May 27th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. Pinduoduo had a return on equity of 22.63% and a net margin of 13.91%. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the business posted ($0.36) earnings per share. Sell-side analysts predict that Pinduoduo Inc. will post 1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pinduoduo

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC raised its position in Pinduoduo by 196.3% during the second quarter. CWM LLC now owns 403 shares of the company’s stock valued at $25,000 after purchasing an additional 267 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Pinduoduo by 108.5% during the first quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 331 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Pinduoduo by 85.5% during the first quarter. Steward Partners Investment Advisory LLC now owns 757 shares of the company’s stock valued at $30,000 after buying an additional 349 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Pinduoduo by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 143,591 shares of the company’s stock valued at $8,765,000 after buying an additional 365 shares during the last quarter. Finally, Coronation Fund Managers Ltd. grew its stake in shares of Pinduoduo by 10.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 4,354 shares of the company’s stock valued at $254,000 after buying an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

About Pinduoduo

(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.

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