Pinduoduo Inc. (NASDAQ:PDD–Get Rating) shares gapped down before the market opened on Friday . The stock had previously closed at $49.62, but opened at $47.38. Pinduoduo shares last traded at $48.97, with a volume of 60,430 shares changing hands.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on PDD shares. Morgan Stanley cut shares of Pinduoduo from an “overweight” rating to an “equal weight” rating and set a $70.00 price target on the stock. in a research note on Monday, July 11th. Citigroup increased their price target on shares of Pinduoduo from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, May 31st. TheStreet raised shares of Pinduoduo from a “d+” rating to a “c” rating in a research note on Tuesday, May 31st. 86 Research raised shares of Pinduoduo from a “hold” rating to a “buy” rating in a research note on Friday, April 29th. Finally, Barclays raised their price objective on shares of Pinduoduo from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 1st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Pinduoduo has an average rating of “Moderate Buy” and a consensus target price of $68.80.
Pinduoduo Trading Down 1.7 %
The company’s fifty day simple moving average is $56.82 and its two-hundred day simple moving average is $49.24. 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 capitalization of $60.45 billion, a price-to-earnings ratio of 33.20 and a beta of 0.78.
Pinduoduo (NASDAQ:PDD–Get Rating) last posted its earnings results on Friday, May 27th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.32 billion. Pinduoduo had a net margin of 13.91% and a return on equity of 22.63%. During the same period last year, the business posted ($0.36) earnings per share. Research analysts forecast that Pinduoduo Inc. will post 1.37 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Pinduoduo
A number of hedge funds and other institutional investors have recently made changes to their positions in PDD. Norges Bank acquired a new stake in shares of Pinduoduo during the fourth quarter worth $266,519,000. RWC Asset Advisors US LLC acquired a new stake in Pinduoduo in the 2nd quarter valued at $195,957,000. Marshall Wace LLP increased its stake in Pinduoduo by 1,866.0% in the 4th quarter. Marshall Wace LLP now owns 2,799,219 shares of the company’s stock valued at $163,193,000 after buying an additional 2,656,840 shares during the last quarter. Bridgewater Associates LP increased its stake in Pinduoduo by 85.6% in the 1st quarter. Bridgewater Associates LP now owns 4,939,412 shares of the company’s stock valued at $198,120,000 after buying an additional 2,277,541 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Pinduoduo by 181.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,418,374 shares of the company’s stock valued at $137,111,000 after buying an additional 2,205,548 shares during the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.
source：defenseworld
Comments