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Broker recommendations can be a useful indicator when it comes to researching shares. Examining the average (sometimes called the 'consensus') rating among analysts can offer a guide to whether a share is worth buying or not.
Take Pinduoduo (NSQ:PDD) as an example. Shares in the company have risen by 77.2% over the past month and it’s currently trading at $60.0. But what do its brokers think?
According to the consensus of analysts covering the stock, there could be reasons to believe the positive trend will continue. In terms of trading recommendations, Pinduoduo currently has:
15 Buy recommendations
7 Hold recommendations
0 Sell recommendations
This indicates that analysts are generally positive about the outlook.
While analyst forecasts can be a useful guide to what City 'experts' think about a stock's near term future, they can be unreliable. To get a better idea about the strengths and weaknesses of Pinduoduo it's worth doing some investigation yourself. Indeed, we've identified some areas of concern with Pinduoduo that you can find out about here.