Pinduoduo Inc. (PDD) picks momentum as shares rise 6.95%

Pinduoduo Inc. (NASDAQ: PDD) is 135.17% higher on its value in year-to-date trading and has touched a low of $30.02 and a high of $98.96 in the current 52-week trading range. The PDD stock was last observed hovering at around $89.20 in the last trading session, with the day’s loss setting it -0.26% off its average median price target of $628.96 for the next 12 months. It is also 91.42% off the consensus price target high of $1036.92 offered by 36 analysts, but current levels are 67.84% higher than the price target low of $276.54 for the same period.

Currently trading at $88.94, the stock is -1.27% and 1.74% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.18 million and changing -0.29% at the moment leaves the stock 61.97% off its SMA200. PDD registered 171.41% gain for a year compared to 6-month gain of 148.51%. The firm has a 50-day simple moving average (SMA 50) of $87.51 and a 200-day simple moving average (SMA200) of $62.64.

The stock witnessed a -3.12% loss in the last 1 month and extending the period to 3 months gives it a 32.15%, and is 6.95% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.86% over the week and 5.06% over the month.

Pinduoduo Inc. (PDD) has around 5828 employees, a market worth around $102.95B and $5.37B in sales. Fwd P/E is 192.93. Profit margin for the company is -24.60%. Distance from 52-week low is 196.27% and -10.13% from its 52-week high. The company has generated returns on investments over the last 12 months (-27.80%).

Pinduoduo Inc. (PDD) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Pinduoduo Inc. (PDD) is a “Overweight”. 36 analysts offering their recommendations for the stock have an average rating of 2.50, where 15 rate it as a Hold and 3 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.

Pinduoduo Inc. is expected to release its quarterly report on 11/18/2020 and quarterly earnings per share for the current quarter are estimated at -$0.15 with sales reaching $1.8B over the same period.The EPS is expected to grow by 56.60% this year, but quarterly earnings will post 64.70% year-over-year. Quarterly sales are estimated to grow 68.10% in year-over-year returns.

Pinduoduo Inc. (PDD) Top Institutional Holders

377 institutions hold shares in Pinduoduo Inc. (PDD), with 15.14M shares held by insiders accounting for 1.27% while institutional investors hold 28.90% of the company’s shares. The shares outstanding are 1.20B, and float is at 640.90M with Short Float at 5.64%. Institutions hold 28.53% of the Float.

The top institutional shareholder in the company is Baillie Gifford and Company with over 25.78 million shares valued at $2.21 billion. The investor’s holdings represent 30.12% of the PDD Shares outstanding. As of Jun 29, 2020, the second largest holder is FMR, LLC with 19.96 million shares valued at $1.71 billion to account for 23.31% of the shares outstanding. The other top investors are Blackrock Inc. which holds 14.51 million shares representing 16.95% and valued at over $1.25 billion, while Goldman Sachs Group, Inc. holds 16.64% of the shares totaling 14.25 million with a market value of $1.22 billion.