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.

Analysts Set New Price Targets

Several research firms have weighed in on PDD. 86 Research raised shares of Pinduoduo from a "hold" rating to a "buy" rating in a research report on Friday, April 29th. JPMorgan Chase & Co. raised shares of Pinduoduo from an "underweight" rating to an "overweight" rating and increased their target price for the stock from $27.00 to $55.00 in a research note on Monday, May 16th. Citigroup increased their price target on shares of Pinduoduo from $61.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, May 31st. Barclays raised their price objective on shares of Pinduoduo from $41.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 1st. Finally, Morgan Stanley lowered shares of Pinduoduo from an "overweight" rating to an "equal weight" rating and set a $70.00 target price on the stock. in a research report on Monday, July 11th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinduoduo presently has an average rating of "Moderate Buy" and an average price target of $68.80.

Pinduoduo Price Performance

Shares of PDD opened at $46.83 on Friday. The company has a market cap of $58.01 billion, a P/E ratio of 31.86 and a beta of 0.78. The stock has a fifty day moving average price of $55.99 and a 200 day moving average price of $49.08. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.89 and a quick ratio of 1.89. Pinduoduo has a 12 month low of $23.21 and a 12 month high of $109.79.

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 return on equity of 22.63% and a net margin of 13.91%. The company had revenue of $3.75 billion during the quarter, compared to analysts' expectations of $3.32 billion. During the same quarter in the prior year, the business posted ($0.36) earnings per share. On average, research analysts forecast that Pinduoduo will post 1.37 earnings per share for the current year.