10 Tech Stocks to Monitor Amid Market Volatility According to Bernstein Analyst

7. Pinduoduo Inc. (NASDAQ:PDD)

Number of Hedge Fund Holders: 86    

Pinduoduo Inc. (NASDAQ:PDD) is a Shanghai-based company that owns and operates an ecommerce platform. The firm has a loyal customer following in China due to a focus on discount deals. Analysts on Wall Street are bullish on the company as it generates significant revenue growth and seems well-positioned to benefit from the expanding ecommerce market in the Asian country. The stock can achieve sustainable growth in the coming months given it has fast EPS growth, positive gross profit trajectory, and sizable free cash flows. The PE Ratio of the firm reflects a high safety margin for investors as well. The market for retail ecommerce sales is set to grow 8% annually over the next four years in China, providing sustained tailwinds for gross profit and EPS growth for PDD.

Expert stock pickers at investment advisory Bernstein share this bullish thesis for Pinduoduo Inc. (NASDAQ:PDD). The advisory has an Outperform rating on the shares with a price target of $235, noting that the first quarter print of the firm looked comically low and the earnings conference call was an exercise in understatements. The advisory added that it expected the profits of the firm to beat Wall Street expectations with active users and gross merchandise value continuing to grow rapidly.