JPMorgan Chase & Co. initiated coverage on shares of Pinduoduo (NASDAQ:PDD) in a research note issued to investors on Tuesday, Benzinga reports. The firm issued an underweight rating and a $20.48 target price on the stock.

PDD has been the topic of a number of other reports. Bank of America reaffirmed a buy rating on shares of Continental in a research report on Wednesday, May 15th. New Street Research raised shares of TIM Participacoes from a neutral rating to a buy rating in a research report on Thursday, June 20th. KeyCorp initiated coverage on shares of Pinduoduo in a research report on Tuesday, April 16th. They set an overweight rating and a $32.00 target price on the stock. Macquarie initiated coverage on shares of Baozun in a research report on Friday, July 5th. They set a buy rating and a $60.00 target price on the stock. Finally, Benchmark initiated coverage on shares of Pinduoduo in a research report on Thursday, June 13th. They set a buy rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $28.28.

NASDAQ:PDD opened at $19.14 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.90 and a quick ratio of 1.90. The company’s 50-day simple moving average is $20.18. Pinduoduo has a twelve month low of $16.53 and a twelve month high of $31.99. The stock has a market cap of $21.42 billion and a P/E ratio of -9.57.

Pinduoduo (NASDAQ:PDD) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.11 billion. Pinduoduo had a negative net margin of 73.90% and a negative return on equity of 76.66%. The firm’s revenue for the quarter was up 228.3% on a year-over-year basis. As a group, sell-side analysts predict that Pinduoduo will post -0.67 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in PDD. FMR LLC lifted its holdings in Pinduoduo by 79.0% in the 1st quarter. FMR LLC now owns 9,991,307 shares of the company’s stock valued at $247,785,000 after acquiring an additional 4,408,544 shares during the last quarter. Greenwoods Asset Management Ltd lifted its holdings in Pinduoduo by 17.7% in the 1st quarter. Greenwoods Asset Management Ltd now owns 4,077,625 shares of the company’s stock valued at $101,125,000 after acquiring an additional 611,976 shares during the last quarter. Krane Funds Advisors LLC lifted its holdings in Pinduoduo by 8.7% in the 1st quarter. Krane Funds Advisors LLC now owns 3,116,352 shares of the company’s stock valued at $77,286,000 after acquiring an additional 249,951 shares during the last quarter. MARSHALL WACE ASIA Ltd lifted its holdings in Pinduoduo by 24,995.7% in the 1st quarter. MARSHALL WACE ASIA Ltd now owns 2,876,721 shares of the company’s stock valued at $71,342,000 after acquiring an additional 2,865,258 shares during the last quarter. Finally, Altimeter Capital Management LP lifted its holdings in Pinduoduo by 2.9% in the 4th quarter. Altimeter Capital Management LP now owns 2,486,288 shares of the company’s stock valued at $55,792,000 after acquiring an additional 70,929 shares during the last quarter. Institutional investors and hedge funds own 10.37% of the company’s stock.

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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