Investors might want to bet on Pinduoduo Inc. Sponsored ADR (PDD), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core.The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.Consensus earnings estimates for the next quarter and full year have moved considerably higher for Pinduoduo Inc. Sponsored ADR, as there has been strong agreement among the covering analysts in raising estimates.The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:12 Month EPSCurrent-Quarter Estimate RevisionsThe company is expected to earn $1.11 per share for the current quarter, which represents a year-over-year change of +20.65%.Over the last 30 days, one estimate has moved higher for Pinduoduo Inc. Sponsored ADR compared to no negative revisions. As a result, the Zacks Consensus Estimate has increased 13.04%.Current-Year Estimate RevisionsFor the full year, the earnings estimate of $3.66 per share represents a change of +144% from the year-ago number.In terms of estimate revisions, the trend for the current year also appears quite encouraging for Pinduoduo Inc. Sponsored ADR. Over the past month, two estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 13.32%.Favorable Zacks RankThanks to promising estimate revisions, Pinduoduo Inc. Sponsored ADR currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.Bottom LineWhile strong estimate revisions for Pinduoduo Inc. Sponsored ADR have attracted decent investments and pushed the stock 47% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pinduoduo Inc. Sponsored ADR (PDD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research