A number of other equities research analysts also recently commented on PDD. Nomura increased their price objective on shares of PDD from $105.00 to $110.00 in a research report on Monday, May 29th. Benchmark increased their target price on shares of PDD from $106.00 to $125.00 in a research report on Tuesday, May 30th. Bank of America increased their target price on shares of PDD from $97.00 to $112.00 in a research report on Tuesday. Barclays increased their target price on shares of PDD from $100.00 to $103.00 in a research report on Wednesday, May 31st. Finally, Jefferies Financial Group increased their target price on shares of PDD from $79.00 to $95.50 in a research report on Tuesday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $117.75.
PDD Trading Up 5.3 %
PDD (NASDAQ:PDD – Get Free Report) last announced its quarterly earnings data on Tuesday, August 29th. The company reported $10.47 EPS for the quarter, beating analysts’ consensus estimates of $7.30 by $3.17. PDD had a net margin of 25.63% and a return on equity of 34.10%. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $43.39 billion. During the same period in the prior year, the firm posted $0.93 EPS. The company’s quarterly revenue was up 66.3% compared to the same quarter last year. Equities analysts predict that PDD will post 3.61 earnings per share for the current fiscal year.
Institutional Trading of PDD
Large investors have recently bought and sold shares of the business. Hhlr Advisors LTD. lifted its stake in shares of PDD by 266.5% in the 1st quarter. Hhlr Advisors LTD. now owns 10,642,847 shares of the company’s stock worth $807,792,000 after acquiring an additional 7,739,047 shares during the period. Norges Bank acquired a new stake in shares of PDD in the 4th quarter worth $501,089,000. Assenagon Asset Management S.A. lifted its stake in shares of PDD by 3,618.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,630,643 shares of the company’s stock worth $351,466,000 after acquiring an additional 4,506,101 shares during the period. Trivest Advisors Ltd lifted its stake in shares of PDD by 396.7% in the 4th quarter. Trivest Advisors Ltd now owns 4,427,900 shares of the company’s stock worth $361,095,000 after acquiring an additional 3,536,400 shares during the period. Finally, Baillie Gifford & Co. lifted its stake in shares of PDD by 10.6% in the 2nd quarter. Baillie Gifford & Co. now owns 31,167,044 shares of the company’s stock worth $2,154,889,000 after acquiring an additional 2,975,800 shares during the period. Institutional investors and hedge funds own 31.08% of the company’s stock.
PDD Company Profile
PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.
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