HSBC Boosts Pinduoduo (NASDAQ:PDD) Price Target to $100.00

Pinduoduo (NASDAQ:PDDGet Rating) had its price objective hoisted by HSBC from $93.00 to $100.00 in a research note released on Tuesday morning, The Fly reports.

Other research analysts have also issued reports about the stock. Benchmark raised their price objective on shares of Pinduoduo from $85.00 to $107.00 in a report on Monday, August 29th. Bank of America raised their price objective on shares of Pinduoduo from $77.00 to $89.00 and gave the stock a buy rating in a report on Tuesday, August 30th. Barclays upgraded shares of Pinduoduo from an equal weight rating to an overweight rating and raised their price target for the stock from $66.00 to $70.00 in a research report on Thursday, October 27th. Morgan Stanley reduced their price target on shares of Pinduoduo from $75.00 to $65.00 in a research report on Monday, October 31st. Finally, Nomura upgraded shares of Pinduoduo from a neutral rating to a buy rating in a research report on Tuesday, August 30th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinduoduo has an average rating of Moderate Buy and a consensus price target of $84.27.

Pinduoduo Price Performance

PDD opened at $83.74 on Tuesday. The company has a fifty day simple moving average of $61.50 and a 200 day simple moving average of $58.13. The firm has a market cap of $103.73 billion, a price-to-earnings ratio of 28.10 and a beta of 0.59. Pinduoduo has a twelve month low of $23.21 and a twelve month high of $85.11. The company has a current ratio of 2.27, a quick ratio of 1.89 and a debt-to-equity ratio of 0.15.

Pinduoduo (NASDAQ:PDDGet Rating) last announced its quarterly earnings data on Monday, August 29th. The company reported $7.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $7.27. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $3.54 billion. Pinduoduo had a net margin of 24.08% and a return on equity of 34.80%. During the same period last year, the business earned $0.33 EPS. Equities research analysts expect that Pinduoduo will post 2.52 EPS for the current fiscal year.

Institutional Trading of Pinduoduo

Several hedge funds have recently bought and sold shares of PDD. GQG Partners LLC bought a new stake in Pinduoduo in the 2nd quarter valued at about $380,782,000. Hsbc Holdings PLC lifted its position in Pinduoduo by 225.8% in the 3rd quarter. Hsbc Holdings PLC now owns 7,011,037 shares of the company’s stock valued at $438,745,000 after purchasing an additional 4,859,204 shares during the last quarter. RWC Asset Advisors US LLC bought a new stake in Pinduoduo in the 2nd quarter valued at about $195,957,000. UBS Asset Management Americas Inc. raised its position in shares of Pinduoduo by 92.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 5,390,519 shares of the company’s stock worth $333,134,000 after buying an additional 2,585,443 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Pinduoduo by 11.7% during the 3rd quarter. BlackRock Inc. now owns 23,309,402 shares of the company’s stock worth $1,458,702,000 after buying an additional 2,437,558 shares in the last quarter. 22.70% of the stock is currently owned by institutional investors.

About Pinduoduo

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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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Analyst Recommendations for Pinduoduo (NASDAQ:PDD)

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