Pinduoduo (NASDAQ:PDD) announced its quarterly earnings results on Friday. The company reported ($2.73) earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the company posted ($0.20) earnings per share. The firm’s quarterly revenue was up 43.9% on a year-over-year basis.
Shares of Pinduoduo stock traded up $8.70 on Friday, reaching $68.70. 24,950,522 shares of the company traded hands, compared to its average volume of 7,191,887. Pinduoduo has a 52 week low of $18.46 and a 52 week high of $69.50. The company has a 50 day moving average of $48.72 and a 200 day moving average of $40.16. The firm has a market capitalization of $66.84 billion, a PE ratio of -81.78 and a beta of 1.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.60 and a quick ratio of 1.60.
A number of equities analysts have recently issued reports on the stock. Barclays reissued a “buy” rating and set a $43.00 price objective on shares of Pinduoduo in a research report on Tuesday, April 14th. CLSA increased their price objective on shares of Pinduoduo from $46.50 to $72.00 and gave the company a “buy” rating in a research note on Friday. Bank of America lowered shares of Pinduoduo from a “buy” rating to a “neutral” rating and set a $64.00 price objective for the company. in a research note on Wednesday. ValuEngine lowered shares of Pinduoduo from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, KeyCorp increased their price objective on shares of Pinduoduo from $50.00 to $65.00 and gave the company an “overweight” rating in a research note 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 assigned a hold rating and ten have assigned a buy rating to the stock. Pinduoduo currently has an average rating of “Hold” and an average 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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