Pinduoduo (NASDAQ:PDD) Receives New Coverage from Analysts at KeyCorp

KeyCorp started coverage on shares of Pinduoduo (NASDAQ:PDD) in a research note released on Tuesday, April 16th, BenzingaRatingsTable reports. The brokerage issued an overweight rating and a $32.00 price target on the stock.

PDD has been the topic of several other research reports. Jefferies Financial Group assumed coverage on shares of Pinduoduo in a research report on Monday, April 15th. They issued a buy rating and a $30.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Pinduoduo in a research note on Wednesday, January 16th. They issued an overweight rating and a $29.00 target price for the company. ValuEngine downgraded shares of Pinduoduo from a buy rating to a hold rating in a research note on Wednesday, February 20th. UBS Group assumed coverage on shares of Pinduoduo in a research note on Wednesday, March 6th. They issued a buy rating and a $37.00 target price for the company. Finally, HSBC assumed coverage on shares of Pinduoduo in a research note on Friday, February 1st. They issued a hold rating for the company. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Pinduoduo has an average rating of Buy and an average price target of $29.95.

Shares of PDD traded down $0.73 during trading hours on Tuesday, reaching $22.40. 7,937,164 shares of the stock traded hands, compared to its average volume of 6,089,766. Pinduoduo has a 52 week low of $16.53 and a 52 week high of $31.99. The firm has a market capitalization of $24.81 billion and a P/E ratio of -11.20.

Pinduoduo (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.03). The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.31 billion. Pinduoduo had a negative net margin of 78.51% and a negative return on equity of 114.98%. Pinduoduo’s quarterly revenue was up 379.4% compared to the same quarter last year. As a group, analysts predict that Pinduoduo will post -0.71 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. purchased a new position in Pinduoduo during the first quarter valued at approximately $35,000. Enlightenment Research LLC purchased a new position in Pinduoduo during the fourth quarter valued at approximately $54,000. Quadrant Capital Group LLC purchased a new position in Pinduoduo during the first quarter valued at approximately $66,000. Atlas Capital Advisors LLC purchased a new position in Pinduoduo during the first quarter valued at approximately $87,000. Finally, Daiwa Securities Group Inc. purchased a new position in Pinduoduo during the first quarter valued at approximately $102,000. 6.93% of the stock is owned by institutional investors.

Pinduoduo Company Profile

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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