Wall Street’s most bullish Pinduoduo Inc. (NASDAQ:PDD) analysts are predicting the share price to blow past $32.44 per share during the next 12 months. The current median share price forecast by them is $29.65, suggesting that the stock could increase 10.88% in that time frame. The average price target of $29.74 calls for a nearly 11.22% increase in the stock price.
Pinduoduo Inc. (PDD) trading activity significantly improved as the volume at ready counter increased to 13,277,948 shares versus 7,362,150 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 6,366,661 shares. The share price rose 3.04% in recent trade and currently has a stock-market value of $25.12B. The shares finished at $26.74, after trading as low as $26.72 earlier in the session. It hit an intraday high Monday at $27.8. The stock is now 61.77% above against its bear-market low of $16.53.
PDD’s 50 day simple moving average (SMA 50) price is $24.52. The company’s stock currently has a total float of 344.73M shares. Its weekly volatility is hovering around 4.33% and felt 5.67% volatility in price over a month. On the upside, the share price will test short term resistance at around $27.45. On a downside, the stock is likely to find some support, which begins at $26.37. The failure to get near-term support could push it to $26.01.
Moreover, it trades for 990.37 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 7.98x price/book and 19.59x price/sales. It’s also very liquid in the near term, with a current ratio of 2.1. The stock has a debt/capital of 0.