Pinduoduo (NASDAQ:PDD) Upgraded to Outperform by KGI Securities

Pinduoduo (NASDAQ:PDD – Get Rating) was upgraded by analysts at KGI Securities from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday, The Fly reports.

Other research analysts have also recently issued reports about the company. Nomura raised Pinduoduo from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 30th. Macquarie increased their target price on Pinduoduo from $104.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 29th. Morgan Stanley increased their target price on Pinduoduo from $65.00 to $77.00 and gave the company an “equal weight” rating in a report on Tuesday, November 29th. Citigroup raised their price objective on Pinduoduo from $79.00 to $111.00 and gave the company a “buy” rating in a research report on Tuesday, November 29th. Finally, Bank of America lifted their price target on Pinduoduo from $77.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, August 30th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Pinduoduo has a consensus rating of “Moderate Buy” and an average target price of $84.27.

Pinduoduo Stock Up 6.2 %

Shares of PDD opened at $91.11 on Friday. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $64.56 and its two-hundred day moving average is $59.97. The firm has a market cap of $112.86 billion, a P/E ratio of 30.57 and a beta of 0.71. Pinduoduo has a 12 month low of $23.21 and a 12 month high of $91.27.

Institutional Trading of Pinduoduo

Large investors have recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. AG raised its position in Pinduoduo by 82.4% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 15,499 shares of the company’s stock worth $622,000 after buying an additional 7,000 shares during the last quarter. TD Asset Management Inc. grew its stake in shares of Pinduoduo by 9.1% during the 1st quarter. TD Asset Management Inc. now owns 20,300 shares of the company’s stock valued at $814,000 after acquiring an additional 1,700 shares during the period. Franchise Capital Ltd grew its stake in shares of Pinduoduo by 1.8% during the 2nd quarter. Franchise Capital Ltd now owns 2,020,893 shares of the company’s stock valued at $124,891,000 after acquiring an additional 35,602 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Pinduoduo by 15.1% during the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 53,391 shares of the company’s stock valued at $3,300,000 after acquiring an additional 6,991 shares during the period. Finally, BlackRock Inc. grew its stake in shares of Pinduoduo by 4.1% during the 1st quarter. BlackRock Inc. now owns 21,132,380 shares of the company’s stock valued at $847,619,000 after acquiring an additional 828,378 shares during the period. Institutional investors own 22.70% of the company’s stock.

Pinduoduo Company Profile

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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.