ValuEngine downgraded shares of Pinduoduo (NASDAQ:PDD) from a hold rating to a sell rating in a research note released on Thursday, ValuEngine reports.

Several other research firms have also commented on PDD. Credit Suisse Group lowered shares of Pinduoduo from an outperform rating to a neutral rating and set a $40.80 price target on the stock. in a research report on Tuesday, February 4th. Macquarie initiated coverage on shares of Pinduoduo in a research report on Wednesday, November 27th. They set an outperform rating and a $62.00 price target on the stock. KeyCorp raised their price target on shares of Pinduoduo from $45.00 to $50.00 and gave the company an overweight rating in a research report on Tuesday, January 21st. Zacks Investment Research lowered shares of Pinduoduo from a hold rating to a strong sell rating in a research report on Thursday, January 23rd. Finally, Nomura restated a hold rating and set a $33.00 price target (down previously from $34.00) on shares of Pinduoduo in a research report on Friday, November 22nd. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $37.99.

PDD stock traded down $0.30 during midday trading on Thursday, hitting $37.12. 4,135,904 shares of the stock traded hands, compared to its average volume of 6,229,540. The firm has a market cap of $41.17 billion, a P/E ratio of -38.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85. The stock’s fifty day simple moving average is $37.92 and its 200-day simple moving average is $34.81. Pinduoduo has a 1-year low of $18.46 and a 1-year high of $45.25.

Pinduoduo (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, November 20th. The company reported ($1.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($1.33). The firm had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.58 billion. Pinduoduo had a negative net margin of 30.59% and a negative return on equity of 32.14%. The firm’s quarterly revenue was up 122.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.68) EPS. On average, research analysts predict that Pinduoduo will post -0.91 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Banco Santander S.A. acquired a new stake in shares of Pinduoduo in the third quarter valued at about $22,773,000. SG Americas Securities LLC lifted its stake in shares of Pinduoduo by 2.8% in the third quarter. SG Americas Securities LLC now owns 74,875 shares of the company’s stock worth $2,412,000 after buying an additional 2,024 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Pinduoduo by 128.6% in the third quarter. California Public Employees Retirement System now owns 204,602 shares of the company’s stock worth $6,592,000 after buying an additional 115,085 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Pinduoduo in the fourth quarter worth about $970,000. Finally, Voloridge Investment Management LLC purchased a new position in shares of Pinduoduo in the third quarter worth about $9,937,000. Institutional investors and hedge funds own 15.24% of the company’s stock.

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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