Why Pinduoduo Inc. (PDD) Stock Could See Much Higher Prices Ahead

Pinduoduo Inc. (NASDAQ: PDD) is -22.39% lower on its value in year-to-date trading and has touched a low of $38.56 and a high of $212.60 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PDD stock was last observed hovering at around $148.13 in the last trading session, with the day’s loss setting it -10.24% off its average median price target of $1140.82 for the next 12 months. It is also 91.45% off the consensus price target high of $1612.64 offered by 38 analysts, but current levels are 80.18% higher than the price target low of $695.78 for the same period.

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Currently trading at $137.89, the stock is -3.94% and -17.15% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.29 million and changing -6.91% at the moment leaves the stock 12.32% off its SMA200. PDD registered 258.25% gain for a year compared to 6-month gain of 91.33%. The firm has a 50-day simple moving average (SMA 50) of $159.34 and a 200-day simple moving average (SMA200) of $139.14.

The stock witnessed a 0.21% loss in the last 1 month and extending the period to 3 months gives it a -26.34%, and is 1.81% 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 4.98% over the week and 6.08% over the month.

Pinduoduo Inc. (PDD) has around 5828 employees, a market worth around $157.29B and $9.08B in sales. Fwd P/E is 157.59. Profit margin for the company is -12.10%. Distance from 52-week low is 257.60% and -35.14% from its 52-week high. The company has generated returns on investments over the last 12 months (-12.30%).

Pinduoduo Inc. (PDD) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Pinduoduo Inc. (PDD) is a “Overweight”. 38 analysts offering their recommendations for the stock have an average rating of 2.10, where 7 rate it as a Hold and 6 think it is a “Overweight”. 22 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

Pinduoduo Inc. is expected to release its quarterly report on 08/26/2021 and quarterly earnings per share for the current quarter are estimated at -$0.4 with sales reaching $3.07B over the same period.The EPS is expected to shrink by 0.00% this year, but quarterly earnings will post 77.70% year-over-year. Quarterly sales are estimated to grow 331.50% in year-over-year returns.

Pinduoduo Inc. (PDD) Top Institutional Holders

684 institutions hold shares in Pinduoduo Inc. (PDD), with 2.82M shares held by insiders accounting for 0.23% while institutional investors hold 31.66% of the company’s shares. The shares outstanding are 1.21B, and float is at 891.95M with Short Float at 1.84%. Institutions hold 31.59% of the Float.

The top institutional shareholder in the company is Baillie Gifford and Company with over 25.37 million shares valued at $4.51 billion. The investor’s holdings represent 2.89% of the PDD Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 19.35 million shares valued at $3.44 billion to account for 2.20% of the shares outstanding. The other top investors are FMR, LLC which holds 16.31 million shares representing 1.86% and valued at over $2.9 billion, while Tiger Global Management, LLC holds 1.60% of the shares totaling 14.05 million with a market value of $2.5 billion.

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