PDD (NASDAQ:PDD) Trading 0.1% Higher

PDD Holdings Inc. (NASDAQ:PDDGet Free Report) traded up 0.1% during mid-day trading on Friday . The stock traded as high as $143.98 and last traded at $143.98. 1,706,891 shares traded hands during trading, a decline of 81% from the average session volume of 8,991,816 shares. The stock had previously closed at $143.83.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $184.00 in a report on Friday, May 24th. Jefferies Financial Group increased their target price on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Barclays increased their target price on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Finally, Benchmark increased their target price on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $188.33.

Get Our Latest Stock Analysis on PDD

PDD Stock Performance

The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average price is $133.54 and its two-hundred day moving average price is $133.99. The firm has a market capitalization of $197.99 billion, a PE ratio of 19.06, a PEG ratio of 0.26 and a beta of 0.64.

PDD (NASDAQ:PDDGet Free Report) last announced its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. PDD had a net margin of 26.93% and a return on equity of 45.04%. The firm had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. On average, equities analysts expect that PDD Holdings Inc. will post 11.19 earnings per share for the current year.

Institutional Trading of PDD

Hedge funds have recently bought and sold shares of the company. Railway Pension Investments Ltd boosted its holdings in shares of PDD by 243.7% in the 1st quarter. Railway Pension Investments Ltd now owns 24,400 shares of the company’s stock valued at $2,836,000 after purchasing an additional 17,300 shares during the last quarter. Ogborne Capital Management LLC boosted its holdings in shares of PDD by 184.6% in the 1st quarter. Ogborne Capital Management LLC now owns 185,000 shares of the company’s stock valued at $21,506,000 after purchasing an additional 120,000 shares during the last quarter. Cetera Advisors LLC boosted its holdings in shares of PDD by 81.4% in the 1st quarter. Cetera Advisors LLC now owns 27,778 shares of the company’s stock valued at $3,229,000 after purchasing an additional 12,463 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of PDD in the 1st quarter valued at $3,987,000. Finally, Virtu Financial LLC acquired a new position in shares of PDD in the 1st quarter valued at $1,924,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

About PDD

(Get Free Report)

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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