Pinduoduo (PDD) Gets a Hold Rating from Barclays
Barclays analyst Gregory Zhao maintained a Hold rating on Pinduoduo (PDD) on January 11 and set a price target of $165.00. The company’s shares closed last Tuesday at $169.48, close to its 52-week high of $187.70.
According to TipRanks.com, Zhao is a 5-star analyst with an average return of 34.1% and a 62.4% success rate. Zhao covers the Technology sector, focusing on stocks such as Tencent Holdings, GSX Techedu, and NetEase.
Currently, the analyst consensus on Pinduoduo is a Strong Buy with an average price target of $164.67.
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Based on Pinduoduo’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $14.21 billion and GAAP net loss of $785 million. In comparison, last year the company earned revenue of $7.51 billion and had a GAAP net loss of $2.34 billion.
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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.