KeyCorp Weighs in on Pinduoduo Inc’s Q3 2020 Earnings (PDD)

Pinduoduo Inc (NASDAQ:PDD) – Equities researchers at KeyCorp lifted their Q3 2020 earnings per share (EPS) estimates for shares of Pinduoduo in a research note issued on Monday, May 20th. KeyCorp analyst H. Chung now forecasts that the company will post earnings per share of $0.12 for the quarter, up from their previous estimate of $0.11. KeyCorp has a “Overweight” rating and a $32.00 price target on the stock. KeyCorp also issued estimates for Pinduoduo’s Q4 2020 earnings at $0.32 EPS, FY2020 earnings at $0.28 EPS and FY2021 earnings at $1.30 EPS.

Other research analysts also recently issued research reports about the company. Bank of America started coverage on Pinduoduo in a report on Wednesday, May 15th. They issued a “buy” rating on the stock. Jefferies Financial Group started coverage on Pinduoduo in a report on Monday, April 15th. They issued a “buy” rating and a $30.00 target price on the stock. UBS Group started coverage on Pinduoduo in a report on Wednesday, March 6th. They issued a “buy” rating and a $37.00 target price on the stock. ValuEngine downgraded Pinduoduo from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. Finally, HSBC started coverage on Pinduoduo in a report on Friday, February 1st. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $29.95.

PDD stock opened at $20.46 on Thursday. Pinduoduo has a fifty-two week low of $16.53 and a fifty-two week high of $31.99. The stock has a market capitalization of $23.84 billion and a price-to-earnings ratio of -10.23.

Pinduoduo (NASDAQ:PDD) last released its quarterly earnings data on Monday, May 20th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.04. Pinduoduo had a negative return on equity of 96.31% and a negative net margin of 73.90%. The company had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.11 billion. The firm’s revenue for the quarter was up 228.3% compared to the same quarter last year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. bought a new position in shares of Pinduoduo in the fourth quarter worth about $17,519,000. BlackRock Inc. raised its stake in shares of Pinduoduo by 5.1% in the fourth quarter. BlackRock Inc. now owns 89,136 shares of the company’s stock worth $2,001,000 after buying an additional 4,287 shares during the period. Gulf International Bank UK Ltd bought a new position in shares of Pinduoduo in the first quarter worth about $719,000. Bank of America Corp DE raised its stake in shares of Pinduoduo by 26.2% in the fourth quarter. Bank of America Corp DE now owns 144,241 shares of the company’s stock worth $3,237,000 after buying an additional 29,908 shares during the period. Finally, Krane Funds Advisors LLC raised its stake in shares of Pinduoduo by 8.7% in the first quarter. Krane Funds Advisors LLC now owns 3,116,352 shares of the company’s stock worth $77,286,000 after buying an additional 249,951 shares during the period. 8.55% of the stock is currently owned by hedge funds and other institutional investors.

About Pinduoduo

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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Earnings History and Estimates for Pinduoduo (NASDAQ:PDD)

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