Pinduoduo Inc. (NASDAQ:PDD) has earned a consensus rating of "Buy" from the twenty-two analysts that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $121.50.
Several equities research analysts recently weighed in on PDD shares. Bank of America upgraded Pinduoduo from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $80.00 to $160.00 in a report on Friday, November 13th. The Goldman Sachs Group upgraded shares of Pinduoduo from a "neutral" rating to a "buy" rating and set a $123.00 price objective for the company in a research note on Monday, November 2nd. Nomura Instinet upgraded shares of Pinduoduo from a "neutral" rating to a "buy" rating in a report on Monday, November 16th. Oppenheimer raised their price target on Pinduoduo from $150.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday, January 27th. They noted that the move was a valuation call. Finally, Sanford C. Bernstein assumed coverage on Pinduoduo in a research note on Monday, January 25th. They issued an "outperform" rating and a $210.00 price objective on the stock.
PDD opened at $171.16 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market cap of $190.66 billion, a PE ratio of -188.09 and a beta of 1.60. The stock has a 50-day moving average of $181.27 and a 200-day moving average of $128.29. Pinduoduo has a 52-week low of $30.20 and a 52-week high of $212.60.
Several large investors have recently added to or reduced their stakes in PDD. Dimensional Fund Advisors LP boosted its position in shares of Pinduoduo by 22.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 378,070 shares of the company's stock valued at $67,181,000 after acquiring an additional 69,509 shares in the last quarter. Principal Financial Group Inc. bought a new position in Pinduoduo during the fourth quarter worth about $4,730,000. UBS Oconnor LLC acquired a new stake in Pinduoduo during the fourth quarter valued at approximately $4,442,000. Rehmann Capital Advisory Group bought a new stake in shares of Pinduoduo in the 4th quarter valued at approximately $460,000. Finally, Old Well Partners LLC raised its holdings in shares of Pinduoduo by 11.2% in the 4th quarter. Old Well Partners LLC now owns 123,105 shares of the company's stock worth $21,872,000 after buying an additional 12,400 shares in the last quarter.
Pinduoduo Company Profile
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 beverage, 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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