Pinduoduo Inc. (NASDAQ:PDD) does about 9.52M shares in volume on a normal day but saw 6486804 shares change hands in Friday trading. The company now has a market cap of 103.25B USD and an enterprise value of about $100.57B. Its current market price is $89.20, marking an increase of 0.43% compared to the previous close of $88.82. The 52 week high reached by this stock is $98.96 whilst the lowest price level in 52 weeks is $30.02. The script in recent trading has seen the stock touch a high of $92.02 and a low of $87.72.
Pinduoduo Inc. (PDD) has a 20-day trading average at $90.08 and the current price is -9.86% off the 52-week high compared with 197.14% distance from its 52-week low. The 50-day simple moving average of the closing price is $87.42 and its 200-day simple moving average is $54.91. If we look at the stock’s price movements over the week, volatility stands at 5.28%, which increases to 5.31% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 51.08 to suggest the stock is neutral.
37 analysts observing the Pinduoduo Inc. (PDD) stock have set the 12-month price targets for the company’s shares at between $276.54 and $1036.92. The consensus objective for the share price is $87.94, suggesting that the stock has a potential downside of -1.43% over the period. The median price target is 85.82% away from the current levels at $628.96.
FactSet Research has provided data showing that 37 brokerages have issued ratings for the stock. 3 analysts have rated it as a sell, while 4 advise that it is a overweight. 14 analysts have rated it as a buy and 15 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 24, 2020 when Barclays reiterated the stock to “Equal Weight” and issued a price target of between $76 and $75. UBS downgraded the stock to “Neutral” from Buy on August 24, 2020 at a price target of $95.
The current price level is -1.12%, 2.19%, and 63.15% away from its SMA20, SMA50, and SMA200 respectively, with the PDD price moving above the 50-day SMA on August 28. Pinduoduo Inc. (PDD) stock is up 6.19% over the week and 5.02% over the past month. Its price is 135.85% year-to-date and 165.40% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of -$0.01 above consensus estimates by $0.19. PDD’s earnings per share are forecast to shrink by -13.50% this year and 178.00% over next year. Expected sales for next quarter are $2.57 billion, which analysts say will come at $7.07 billion for the current fiscal year and next year at $10.87 billion. In addition, estimates put the company’s current quarterly revenue at an average of $1.8 billion.
Its 12-month price target is $628.96. To reach the target analysts have set, the stock logically needs to shrink -1.43 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $276.54, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $1036.92.
Outstanding shares total 1.20B with insiders holding 1.27% of the shares and institutional holders owning 28.53% of the company’s common stock. The company has a return on investment of -27.80% and return on equity of -35.80%. The forward price to earnings ratio is 193.49. Price to book ratio is 24.92 and price to sales ratio is 19.21.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total International Stoc has reduced its position in Pinduoduo Inc. (PDD) to 4,641,643 shares, mirroring a recent drop by -0.07%. Vanguard Total International Stoc dumped 3260.0 shares of Pinduoduo Inc. common stock bringing its total worth to about $426.1 million at the end of recent close, SEC documents show. Vanguard Total International Stoc isn’t the only investment manager who changed stakes and is followed by Vanguard Emerging Markets Stock I, which added 9173.0 shares to end up with 3,744,183 shares worth $343.72 million. Fidelity Inv Trust – Emerging Ma cut their holdings by -19.38% in the company over the course of the most recent quarter. It now holds a 0.44% position in Pinduoduo Inc. thanks to 2.95 million shares amounting to $270.97 million.