Brokerages Set PDD Holdings Inc. (NASDAQ:PDD) PT at $182.40

Shares of PDD Holdings Inc. (NASDAQ:PDD) have received an average rating of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $182.40.

A number of equities analysts have weighed in on the company. Sanford C. Bernstein reduced their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Jefferies Financial Group lowered their price objective on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and cut their target price for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. Barclays lowered their price target on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Finally, Bank of America cut their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, August 27th.

PDD Stock Down 0.6 %

PDD stock opened at $117.15 on Friday. PDD has a 1-year low of $88.01 and a 1-year high of $164.69. The business has a fifty day moving average price of $119.63 and a 200-day moving average price of $131.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a market capitalization of $161.18 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.28 and a beta of 0.71.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. PDD’s revenue for the quarter was up 85.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 EPS. Equities research analysts forecast that PDD will post 11.19 EPS for the current fiscal year.

Hedge Funds Weigh In On PDD

A number of hedge funds have recently made changes to their positions in PDD. Oppenheimer & Co. Inc. lifted its holdings in PDD by 1.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 14,010 shares of the company’s stock worth $1,629,000 after buying an additional 168 shares in the last quarter. ClariVest Asset Management LLC boosted its holdings in PDD by 16,807.0% in the first quarter. ClariVest Asset Management LLC now owns 16,907 shares of the company’s stock valued at $1,965,000 after purchasing an additional 16,807 shares during the period. Swiss National Bank grew its stake in PDD by 0.8% during the 1st quarter. Swiss National Bank now owns 1,349,709 shares of the company’s stock worth $156,904,000 after purchasing an additional 10,769 shares in the last quarter. QRG Capital Management Inc. increased its holdings in PDD by 2.3% during the 1st quarter. QRG Capital Management Inc. now owns 14,735 shares of the company’s stock worth $1,713,000 after purchasing an additional 331 shares during the period. Finally, Henry James International Management Inc. raised its position in PDD by 33.2% in the 1st quarter. Henry James International Management Inc. now owns 30,443 shares of the company’s stock valued at $3,539,000 after purchasing an additional 7,582 shares in the last quarter. Hedge funds and other institutional investors own 29.07% 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.