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

Other analysts have also recently issued reports about the stock. Nomura restated a hold rating and set a $33.00 target price (down from $34.00) on shares of Pinduoduo in a research report on Friday, November 22nd. Zacks Investment Research downgraded shares of Pinduoduo from a hold rating to a strong sell rating in a report on Thursday, January 23rd. Macquarie assumed coverage on shares of Pinduoduo in a report on Wednesday, November 27th. They set an outperform rating and a $62.00 price target on the stock. KeyCorp upped their price target on shares of Pinduoduo from $45.00 to $50.00 and gave the company an overweight rating in a report on Tuesday, January 21st. Finally, Credit Suisse Group downgraded shares of Pinduoduo from an outperform rating to a neutral rating and set a $40.80 price target on the stock. in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $37.99.

Shares of NASDAQ PDD traded down $0.30 during mid-day trading on Thursday, hitting $37.12. 4,135,904 shares of the company’s stock traded hands, compared to its average volume of 6,229,540. The company’s 50-day moving average is $37.92 and its two-hundred day moving average is $34.81. 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 company has a market capitalization of $41.17 billion, a P/E ratio of -38.67 and a beta of 1.33. Pinduoduo has a 1 year low of $18.46 and a 1 year high of $45.25.

Pinduoduo (NASDAQ:PDD) last announced its earnings results on Wednesday, November 20th. The company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.33). The business had revenue of $7.51 billion for the quarter, compared to analysts’ expectations 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 company posted ($0.68) earnings per share. Equities analysts anticipate that Pinduoduo will post -0.91 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Panagora Asset Management Inc. boosted its stake in shares of Pinduoduo by 104.4% during the fourth quarter. Panagora Asset Management Inc. now owns 1,983 shares of the company’s stock valued at $75,000 after purchasing an additional 1,013 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Pinduoduo during the fourth quarter valued at approximately $97,000. Advisors Preferred LLC purchased a new stake in Pinduoduo during the fourth quarter valued at approximately $104,000. Quadrant Capital Group LLC purchased a new stake in Pinduoduo during the third quarter valued at approximately $130,000. Finally, Virtu Financial LLC purchased a new stake in Pinduoduo during the fourth quarter valued at approximately $213,000. 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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