Pinduoduo is another Chinese e-commerce play that’s been roaring higher of late. Since bottoming earlier last year, PDD stock has more than quadrupled. Indeed, Pinduoduo has always been one of the choppiest movers in the market.
Powering Pinduoduo’s recent rally are very strong quarterly beats. The third-quarter numbers ($0.93 EPS vs. $0.72 estimate) were amazing, causing many analysts to hike their price targets.
Undoubtedly, PDD stock is the spiciest e-commerce play on the list, but it may also be the one with the greatest upside now that its historic 89% crash is in the rear-view mirror.
Beyond China-reopening optimism, Pinduoduo has been continuing to add to its arsenal of services. Like Amazon, PDD hasn’t lost its disruptive spirit. That alone may make PDD stock well worth the 7.0 times sales multiple.
What is the Price Target for PDD Stock?
Wall Street is sticking with Pinduoduo shares. The average PDD stock price target of $106.19 implies 9.5% upside potential based on 14 Buys and two Hold ratings.
