- The shares of Pinduoduo Inc (NASDAQ: PDD) have received an $85 price target from Benchmark. These are the details.
The shares of Pinduoduo Inc (NASDAQ: PDD) have received an $85 price target from Benchmark. And Benchmark analyst Fawne Jiang is maintaining a “Buy” rating on the shares.
Jiang adjusted the rating after the company reported mixed fourth-quarter results. And Jiang believes that Pinduoduo will transition from a hyper-growth and loss-making stock to a company with moderate revenue growth and robust operating leveraging.
Jiang had lowered the revenue projections while raising earnings estimates for FY22 and FY23. This new price target is based on the estimate changes to reflect the reduced multiples.
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