Brokers upbeat on Pinduoduo Inc despite economic uncertainty

The Pinduoduo Inc (NSQ:PDD) share price has risen by 30.9% over the past month and it’s currently trading at 60.32. For investors considering whether to buy, hold or sell the stock, the question now is whether this price run will continue.

According to the company’s analysts, there are certainly reasons to think it will continue to perform well in the year ahead. In terms of trading recommendations, Pinduoduo Inc currently has:

• 10 Buy recommendations

• 4 Hold recommendations

• 0 Sell recommendations

This suggests that analysts are generally positive about the outlook.

At its current price of 60.32, shares in Pinduoduo Inc are trading at a discount of -6.89% to its 52 week high price. The 1-year performance of the shares has been 220%.

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 Inc it's worth doing some investigation yourself.

There are all sorts of factors that could affect Pinduoduo Inc's share price this year – we simplify them into easy to understand scores with our Stockopedia StockReport. Click here to take a look at the StockReport for Pinduoduo Inc – you might discover some surprising things you didn’t know.