Oppenheimer analyst Bo Pei CFA maintained a Buy rating on Pinduoduo (PDD) today and set a price target of $200.00. The company’s shares closed last Tuesday at $173.98, close to its 52-week high of $195.11.
According to TipRanks.com, CFA is a 3-star analyst with an average return of 9.4% and a 50.0% success rate. CFA covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, BlueCity Holdings, and Yalla Group.
Currently, the analyst consensus on Pinduoduo is a Strong Buy with an average price target of $184.64, implying a 1.7% upside from current levels. In a report issued on January 19, J.P. Morgan also maintained a Buy rating on the stock with a $200.00 price target.
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Pinduoduo’s market cap is currently $213.4B and has a P/E ratio of -139.00. The company has a Price to Book ratio of 39.29.
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Pinduoduo, Inc. operates as a holding company, which engages in the development and management of an e-commerce platform. Its Pinduoduo mobile application offers a selection of merchandise for buyer acquisition and engagement. The company was founded by Hua Lin Cai and Zheng Huang on April 20, 2015 and is headquartered in Shanghai, China.