Pinduoduo (NASDAQ:PDD) Lifted to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Pinduoduo (NASDAQ:PDDGet Rating) from an underweight rating to an overweight rating in a research report report published on Monday, MarketBeat.com reports. The brokerage currently has $55.00 price objective on the stock, up from their previous price objective of $27.00.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Pinduoduo from a hold rating to a sell rating in a research note on Wednesday, March 23rd. Barclays cut their price target on shares of Pinduoduo from $71.00 to $41.00 in a research note on Wednesday, March 23rd. Citigroup cut their price target on shares of Pinduoduo from $80.00 to $61.00 and set a buy rating for the company in a research note on Tuesday, March 22nd. 86 Research raised shares of Pinduoduo from a hold rating to a buy rating in a research note on Friday, April 29th. Finally, HSBC cut their price target on shares of Pinduoduo from $76.00 to $46.00 and set a hold rating for the company in a research note on Tuesday, March 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $83.08.

Pinduoduo stock opened at $38.59 on Monday. The firm’s 50 day simple moving average is $40.15 and its 200 day simple moving average is $54.97. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $47.80 billion, a PE ratio of 47.06 and a beta of 1.18. Pinduoduo has a 1-year low of $23.21 and a 1-year high of $143.11.

Pinduoduo (NASDAQ:PDDGet Rating) last posted its earnings results on Monday, March 21st. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.72. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.74 billion. Pinduoduo had a net margin of 8.40% and a return on equity of 15.76%. During the same quarter in the prior year, the firm posted ($0.17) EPS. Research analysts forecast that Pinduoduo will post 1.31 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System boosted its position in Pinduoduo by 0.6% during the 3rd quarter. California State Teachers Retirement System now owns 29,397 shares of the company’s stock valued at $2,665,000 after buying an additional 175 shares during the period. Infusive Asset Management Inc. boosted its position in Pinduoduo by 3.2% during the 3rd quarter. Infusive Asset Management Inc. now owns 6,045 shares of the company’s stock valued at $548,000 after buying an additional 187 shares during the period. Kistler Tiffany Companies LLC boosted its position in Pinduoduo by 25.3% during the 4th quarter. Kistler Tiffany Companies LLC now owns 940 shares of the company’s stock valued at $55,000 after buying an additional 190 shares during the period. Captrust Financial Advisors purchased a new stake in Pinduoduo during the 3rd quarter valued at $28,000. Finally, Lindbrook Capital LLC boosted its position in Pinduoduo by 68.6% during the 4th quarter. Lindbrook Capital LLC now owns 772 shares of the company’s stock valued at $45,000 after buying an additional 314 shares during the period. 21.84% of the stock is owned by institutional investors and hedge funds.

Pinduoduo Company Profile (Get Rating)

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.

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