Pinduoduo (NASDAQ:PDD) Shares Gap Down to $60.38

Pinduoduo Inc. (NASDAQ:PDD) gapped down before the market opened on Thursday . The stock had previously closed at $60.38, but opened at $58.45. Pinduoduo shares last traded at $58.79, with a volume of 37,256 shares.

Several brokerages have commented on PDD. TheStreet raised Pinduoduo from a “d” rating to a “c” rating in a research note on Monday, September 27th. UBS Group upgraded Pinduoduo from a “hold” rating to a “buy” rating in a report on Friday. Macquarie started coverage on Pinduoduo in a report on Tuesday, December 7th. They set an “outperform” rating on the stock. Citigroup cut Pinduoduo from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $140.00 to $80.00 in a report on Monday, November 29th. Finally, Barclays started coverage on Pinduoduo in a report on Tuesday, November 2nd. They set an “equal weight” rating and a $103.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $147.09.

The company has a fifty day moving average of $66.45 and a 200 day moving average of $86.46. The firm has a market capitalization of $74.83 billion, a P/E ratio of -755.13 and a beta of 1.38. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.82 and a quick ratio of 1.82.

Pinduoduo (NASDAQ:PDD) last announced its earnings results on Friday, November 26th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.20. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $4.31 billion. Pinduoduo had a positive return on equity of 1.17% and a negative net margin of 0.18%. On average, sell-side analysts forecast that Pinduoduo Inc. will post 1.3 EPS for the current year.

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Pinduoduo by 2.6% during the 3rd quarter. BlackRock Inc. now owns 19,871,306 shares of the company’s stock worth $1,801,730,000 after buying an additional 501,397 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Pinduoduo by 25.1% during the 2nd quarter. Vanguard Group Inc. now owns 13,367,842 shares of the company’s stock worth $1,697,984,000 after buying an additional 2,685,114 shares in the last quarter. Krane Funds Advisors LLC boosted its holdings in shares of Pinduoduo by 131.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 5,901,628 shares of the company’s stock worth $535,101,000 after buying an additional 3,353,823 shares in the last quarter. Tybourne Capital Management HK Ltd. boosted its holdings in shares of Pinduoduo by 89.9% during the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 3,499,244 shares of the company’s stock worth $317,276,000 after buying an additional 1,656,165 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Pinduoduo by 1.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,374,561 shares of the company’s stock worth $305,971,000 after buying an additional 60,029 shares in the last quarter. Hedge funds and other institutional investors own 21.35% of the company’s stock.

Pinduoduo Company Profile (NASDAQ:PDD)

Pinduoduo, Inc operates as a holding company, which engages in the development and management of an e-commerce platform. Its Pinduoduo mobile application offers a selection of merchandise for buyer acquisition and engagement. The company was founded by Hua Lin Cai and Zheng Huang on April 20, 2015 and is headquartered in Shanghai, China.

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