PDD (NASDAQ:PDD) Trading Down 0.4%

PDD Holdings Inc. (NASDAQ:PDD) fell 0.4% on Tuesday . The stock traded as low as $139.82 and last traded at $140.90. 1,552,673 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 8,825,319 shares. The stock had previously closed at $141.53.

Analyst Ratings Changes

Several brokerages recently weighed in on PDD. Bank of America raised their price target on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Benchmark raised their price target on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Jefferies Financial Group raised their price target on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, UBS Group raised their price target on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $188.33.

PDD Stock Performance

The company’s 50-day simple moving average is $140.29 and its 200 day simple moving average is $134.94. 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 has a market cap of $190.19 billion, a P/E ratio of 18.31, a PEG ratio of 0.24 and a beta of 0.64.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $1.19. PDD had a net margin of 26.93% and a return on equity of 45.04%. The company had revenue of $12.02 billion during the quarter, compared to analyst estimates of $10.62 billion. As a group, sell-side analysts expect that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

Institutional Investors Weigh In On PDD

Several large investors have recently modified their holdings of PDD. SRS Capital Advisors Inc. increased its stake in shares of PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD during the 1st quarter worth approximately $29,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PDD during the 4th quarter worth approximately $59,000. EverSource Wealth Advisors LLC increased its stake in shares of PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares during the last quarter. Finally, AJOVista LLC purchased a new stake in shares of PDD during the 4th quarter worth approximately $103,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

About PDD

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.