Pinduoduo - PDD Stock Forecast, Price & News

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. The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc. in July 2018. Pinduoduo Inc. was incorporated in 2015 and is headquartered in Shanghai, the People's Republic of China.

Pinduoduo Trading Up 1.7 %

Pinduoduo stock traded up $0.84 during mid-day trading on Monday, hitting $49.64. 114,185 shares of the stock were exchanged, compared to its average volume of 13,936,726. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.18. Pinduoduo has a 12 month low of $23.21 and a 12 month high of $109.79. The firm's fifty day simple moving average is $56.82 and its two-hundred day simple moving average is $49.20. The stock has a market capitalization of $61.49 billion, a price-to-earnings ratio of 33.20 and a beta of 0.78.

Pinduoduo (NASDAQ:PDD - Get Rating) last released its quarterly earnings results on Friday, May 27th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. Pinduoduo had a net margin of 13.91% and a return on equity of 22.63%. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter last year, the business earned ($0.36) EPS. Analysts forecast that Pinduoduo will post 1.37 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on PDD. Barclays raised their price target on shares of Pinduoduo from $41.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 1st. TheStreet upgraded shares of Pinduoduo from a "d+" rating to a "c" rating in a research note on Tuesday, May 31st. Morgan Stanley downgraded shares of Pinduoduo from an "overweight" rating to an "equal weight" rating and set a $70.00 price objective on the stock. in a research note on Monday, July 11th. Citigroup increased their price objective on shares of Pinduoduo from $61.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, May 31st. Finally, 86 Research upgraded shares of Pinduoduo from a "hold" rating to a "buy" rating in a research note on Friday, April 29th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $68.80.