Pinduoduo (PDD) Now Covered by KeyCorp

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Investment analysts at KeyCorp began coverage on shares of Pinduoduo (NASDAQ:PDD) in a note issued to investors on Tuesday, Marketbeat reports. The brokerage set an “overweight” rating and a $32.00 price target on the stock. KeyCorp’s price target would indicate a potential upside of 39.01% from the company’s current price.

PDD has been the subject of a number of other reports. Morgan Stanley initiated coverage on Pinduoduo in a research report on Wednesday, January 16th. They issued an “overweight” rating and a $29.00 price objective for the company. HSBC initiated coverage on Pinduoduo in a research report on Friday, February 1st. They issued a “hold” rating for the company. ValuEngine cut Pinduoduo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. UBS Group initiated coverage on Pinduoduo in a research report on Wednesday, March 6th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on Pinduoduo in a research report on Monday. They issued a “buy” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $30.98.

Pinduoduo stock opened at $23.02 on Tuesday. Pinduoduo has a 52 week low of $16.53 and a 52 week high of $31.99. The stock has a market cap of $24.93 billion and a P/E ratio of -11.51.

Pinduoduo (NASDAQ:PDD) last released its earnings results on Wednesday, March 13th. The company reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.03). The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.31 billion. Pinduoduo had a negative return on equity of 114.98% and a negative net margin of 78.51%. The firm’s revenue for the quarter was up 379.4% compared to the same quarter last year. Analysts expect that Pinduoduo will post -0.46 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Enlightenment Research LLC acquired a new position in shares of Pinduoduo in the 4th quarter valued at $54,000. FNY Investment Advisers LLC acquired a new position in shares of Pinduoduo in the 4th quarter valued at $224,000. Raymond James & Associates acquired a new position in shares of Pinduoduo in the 4th quarter valued at $364,000. Maven Securities LTD acquired a new position in shares of Pinduoduo in the 4th quarter valued at $428,000. Finally, Virtu Financial LLC acquired a new position in shares of Pinduoduo in the 1st quarter valued at $496,000. 6.76% of the stock is currently 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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