Pinduoduo (NASDAQ:PDD) posted its quarterly earnings results on Wednesday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.03), MarketWatch Earnings reports. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.31 billion. The firm’s revenue for the quarter was up 379.4% compared to the same quarter last year.
PDD opened at $24.39 on Friday. Pinduoduo has a one year low of $16.53 and a one year high of $31.99.
A number of equities research analysts have recently issued reports on the company. UBS Group assumed coverage on Pinduoduo in a research report on Wednesday, March 6th. They issued a “buy” rating and a $37.00 price target for the company. ValuEngine lowered Pinduoduo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. HSBC assumed coverage on Pinduoduo in a research report on Friday, February 1st. They issued a “hold” rating for the company. Morgan Stanley assumed coverage on Pinduoduo in a research report on Wednesday, January 16th. They issued an “overweight” rating and a $29.00 price target for the company. Finally, Credit Suisse Group set a $26.00 price target on Pinduoduo and gave the company a “buy” rating in a research report on Wednesday, November 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.98.
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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