PDD Holdings Inc. (NASDAQ:PDD) Receives Average Rating of “Buy” from Analysts

PDD Holdings Inc. (NASDAQ:PDDGet Free Report) has been given a consensus rating of “Buy” by the nine research firms that are currently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $188.33.

Several equities research analysts have commented on the company. JPMorgan Chase & Co. dropped their target price on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Barclays upped their price target on shares of PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Jefferies Financial Group raised their price objective on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. UBS Group upped their target price on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Bank of America increased their price target on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 23rd.

Read Our Latest Stock Analysis on PDD

PDD Price Performance

PDD stock opened at $136.19 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09. PDD has a 1 year low of $67.55 and a 1 year high of $164.69. The firm has a 50-day moving average of $142.40 and a 200 day moving average of $134.35. The company has a market cap of $187.38 billion, a P/E ratio of 18.04, a PEG ratio of 0.24 and a beta of 0.63.

PDD (NASDAQ:PDDGet Free Report) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.44 by $1.19. The company had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $10.62 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. On average, sell-side analysts forecast that PDD will post 11.41 EPS for the current year.

Hedge Funds Weigh In On PDD

A number of hedge funds have recently modified their holdings of PDD. Whittier Trust Co. of Nevada Inc. grew its position in shares of PDD by 2.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock worth $491,000 after purchasing an additional 66 shares in the last quarter. Johnson Investment Counsel Inc. grew its holdings in PDD by 2.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after buying an additional 78 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of PDD by 2.6% during the first quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after buying an additional 98 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares in the last quarter. Finally, PDS Planning Inc boosted its position in shares of PDD by 5.2% during the fourth quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock worth $341,000 after acquiring an additional 116 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors.

PDD Company Profile

(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.

Further Reading

Analyst Recommendations for PDD (NASDAQ:PDD)

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