Shares of Pinduoduo Inc (NASDAQ:PDD) have been given a consensus recommendation of “Buy” by the eleven research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $29.95.

A number of research firms recently issued reports on PDD. UBS Group began coverage on Pinduoduo in a research note on Wednesday, March 6th. They set a “buy” rating and a $37.00 target price for the company. ValuEngine cut Pinduoduo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th. HSBC began coverage on Pinduoduo in a research note on Friday, February 1st. They set a “hold” rating for the company. Zacks Investment Research raised Pinduoduo from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, 86 Research started coverage on Pinduoduo in a research note on Tuesday, May 7th. They set a “hold” rating and a $23.74 target price for the company.

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its position in Pinduoduo by 79.0% during the 1st quarter. FMR LLC now owns 9,991,307 shares of the company’s stock worth $247,785,000 after acquiring an additional 4,408,544 shares during the last quarter. BlackRock Inc. boosted its position in Pinduoduo by 10,013.8% during the 1st quarter. BlackRock Inc. now owns 9,015,008 shares of the company’s stock worth $223,573,000 after acquiring an additional 8,925,872 shares during the last quarter. Greenwoods Asset Management Ltd boosted its position in Pinduoduo by 17.7% during the 1st quarter. Greenwoods Asset Management Ltd now owns 4,077,625 shares of the company’s stock worth $101,125,000 after acquiring an additional 611,976 shares during the last quarter. Krane Funds Advisors LLC boosted its position in Pinduoduo by 8.7% during the 1st quarter. Krane Funds Advisors LLC now owns 3,116,352 shares of the company’s stock worth $77,286,000 after acquiring an additional 249,951 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd boosted its position in Pinduoduo by 24,995.7% during the 1st quarter. MARSHALL WACE ASIA Ltd now owns 2,876,721 shares of the company’s stock worth $71,342,000 after acquiring an additional 2,865,258 shares during the last quarter. 7.00% of the stock is owned by hedge funds and other institutional investors.

Shares of PDD stock opened at $20.46 on Monday. Pinduoduo has a one year low of $16.53 and a one year high of $31.99. The stock has a market capitalization of $22.67 billion and a PE ratio of -10.23.

Pinduoduo (NASDAQ:PDD) last posted its earnings results on Monday, May 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. Pinduoduo had a negative return on equity of 114.98% and a negative net margin of 78.51%. The business had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Pinduoduo’s revenue was up 228.3% on a year-over-year basis. On average, sell-side analysts predict that Pinduoduo will post -0.75 earnings per share for the current year.

About Pinduoduo

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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Analyst Recommendations for Pinduoduo (NASDAQ:PDD)

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