In the last trading session, 7.38 million shares of the Pinduoduo Inc. (NASDAQ:PDD) were traded. Most recently the company’s share price was $96.22, and it changed around $1.27 or 1.34% from the last close, which brings the market valuation of the company to $119.00B. PDD currently trades at a discount to its 52-week high of $212.60, offering almost -120.95% off that amount. The share price’s 52-week low was $73.01, which indicates that the current value has risen by an impressive 24.12% since then. We note from Pinduoduo Inc.’s average daily trading volume that its 10-day average is 6.41 million shares, with the 3-month average coming to 8.43 million.
Pinduoduo Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 1.90. If we narrow it down even further, the data shows that 0 out of 38 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 8 recommended PDD as a Hold, whereas 25 deemed it a Buy, and 0 rated it as Underweight. Pinduoduo Inc. is expected to report earnings per share of -$0.03 for the current quarter.
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Instantly PDD has showed a green trend with a performance of 1.34% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 97.00 on Friday, 10/08/21 increased the stock’s daily price by 0.8%. The company’s shares are currently down -45.84% year-to-date, but still up 9.15% over the last five days. On the other hand, Pinduoduo Inc. (NASDAQ:PDD) is -7.73% up in the 30-day period. We can see from the shorts that 23.5 million shares have been sold at a short interest cover period of 2.85 day(s).
The consensus price target as assigned by Wall Street analysts is $881.76, which translates to bulls needing to increase their stock price by 89.09% from its current value. Analyst projections state that PDD is forecast to be at a low of $570.02 and a high of $1387.72. In order for the stock price to hit the forecast high, the stock would need to plunge -1342.24% from its current level, while the stock would need to crash -492.41% from its current level to reach the projected low.
Pinduoduo Inc. (PDD) estimates and forecasts
Pinduoduo Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -28.07 percent over the past six months and at a 172.83% annual growth rate that is well above the industry average of 12.40%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will loss -160.00% in revenue this quarter, and will report an increase of 1,350.00% in the next quarter. The year-over-year growth rate is expected to be 80.50%, up from the previous year.
Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $4.1 billion in revenue for the current quarter. 11 analysts expect Pinduoduo Inc. to make $5.52 billion in revenue for the quarter ending Dec 2021. Forecasts for the next quarter put sales growth at 33.90%.
Pinduoduo Inc.’s next quarterly earnings report is expected to be released around November 10 and November 15.
Pinduoduo Inc. (NASDAQ:PDD)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.18% of Pinduoduo Inc. shares, and 28.92% of them are in the hands of institutional investors. The stock currently has a share float of 28.97%. Pinduoduo Inc. stock is held by 711 institutions, with Baillie Gifford and Company being the largest institutional investor. By Jun 29, 2021, it held 2.19% of the shares, which is about 27.45 million shares worth $3.49 billion.
Blackrock Inc., with 1.55% or 19.37 million shares worth $2.46 billion as of Jun 29, 2021, holds the second largest percentage of outstanding shares.
Invesco ETF Tr-Invesco QQQ Tr, Series 1 ETF and Vanguard International Stock Index-Emerging Markets Stk were the top two Mutual Funds as of Jun 29, 2021. The former held 4.9 million shares worth $622.8 million, making up 0.39% of all outstanding shares. On the other hand, Vanguard International Stock Index-Emerging Markets Stk held roughly 4.01 million shares worth around $536.74 million, which represents about 0.32% of the total shares outstanding.