Pinduoduo (NASDAQ:PDD) posted its quarterly earnings data on Friday. The company reported ($2.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($2.39), Briefing.com reports. Pinduoduo had a negative return on equity of 27.59% and a negative net margin of 23.14%. The company had revenue of $6.54 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same period in the previous year, the business posted ($0.20) earnings per share. The firm’s revenue was up 43.9% compared to the same quarter last year.
Pinduoduo stock traded up $8.70 during mid-day trading on Friday, hitting $68.70. 24,950,522 shares of the company were exchanged, compared to its average volume of 7,191,887. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.60 and a quick ratio of 1.60. The business’s 50 day simple moving average is $48.72 and its two-hundred day simple moving average is $40.16. The company has a market capitalization of $66.84 billion, a P/E ratio of -81.78 and a beta of 1.17. Pinduoduo has a 12-month low of $18.46 and a 12-month high of $69.50.
A number of analysts have weighed in on PDD shares. Citigroup cut Pinduoduo from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $43.00 to $38.00 in a research report on Wednesday, March 11th. Zacks Investment Research raised Pinduoduo from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Thursday. Credit Suisse Group raised Pinduoduo from a “neutral” rating to an “outperform” rating and set a $52.50 price target for the company in a report on Monday, April 20th. Bank of America cut Pinduoduo from a “buy” rating to a “neutral” rating and set a $64.00 price target for the company. in a report on Wednesday. Finally, KeyCorp raised their price target on Pinduoduo from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $48.91.
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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