Stocks of Pinduoduo Inc. (NASDAQ:PDD) traded higher last session on Wall Street, up 4.43% to $70.55.
According to the data, Pinduoduo Inc. (NASDAQ:PDD) has 46 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $878.47 and a low of $434.98, we find $595.19. Given the previous closing price of $67.56, this indicates a potential upside of 780.98 percent. PDD stock price is now 15.96% away from the 50-day moving average and 33.91% away from the 200-day moving average. The market capitalization of the company currently stands at $87.66B.
A total of 3 analysts have issued a hold rating and 37 have given it a buy rating. Brokers who have rated the stock have averaged $618.76 as their price target over the next twelve months.
With the price target enhanced from $66 to $70, Barclays Upgraded its rating from Equal Weight to Overweight for Pinduoduo Inc. (NASDAQ: PDD). On August 30, 2022, HSBC Securities Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $93, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’.
A total of 0.17% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PDD stock. A new stake in Pinduoduo Inc. shares was purchased by ALTIMETER CAPITAL MANAGEMENT, LP during the first quarter worth $77,605,000. TAIREN CAPITAL LTD invested $73,645,000 in shares of PDD during the first quarter. In the first quarter, ASPEX MANAGEMENT (HK) LTD acquired a new stake in Pinduoduo Inc. valued at approximately $70,550,000. ORIGIN ASSET MANAGEMENT LLP acquired a new stake in PDD for approximately $48,274,000. KORA MANAGEMENT LP purchased a new stake in PDD valued at around $38,450,000 in the second quarter. In total, there are 695 active investors with 24.40% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $66.40 for Pinduoduo Inc. (NASDAQ: PDD). During the past 12 months, Pinduoduo Inc. has had a low of $23.21 and a high of $93.40. The fifty day moving average price for PDD is $60.84 and a two-hundred day moving average price translates $52.68 for the stock.
The latest earnings results from Pinduoduo Inc. (NASDAQ: PDD) was released for Jun, 2022. According to the Internet Retail Company, earnings per share came in at $1.05, beating analysts’ expectations of $0.38 by 0.67. This compares to -$0.36 EPS in the same period last year. The net profit margin was 19.00% and return on equity was 25.40% for PDD. The company reported revenue of $3.75 billion for the quarter, compared to $3.38 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.94 percent. For the current quarter, analysts expect PDD to generate $4.28B in revenue.
Pinduoduo Inc.(PDD) 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 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.