PDD (NASDAQ:PDD) Given New $158.00 Price Target at Barclays

PDD (NASDAQ:PDD) had its price target lowered by Barclays from $224.00 to $158.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Sanford C. Bernstein dropped their price target on PDD from $235.00 to $170.00 and set an outperform rating for the company in a report on Tuesday. UBS Group raised their target price on PDD from $248.00 to $272.00 and gave the company a buy rating in a research note on Wednesday, May 22nd. Macquarie downgraded shares of PDD from an outperform rating to a neutral rating in a research report on Monday. Jefferies Financial Group lowered their price objective on shares of PDD from $193.00 to $151.00 and set a buy rating for the company in a research report on Monday. Finally, Bank of America dropped their target price on shares of PDD from $206.00 to $170.00 and set a buy rating for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, PDD has a consensus rating of Moderate Buy and an average price target of $163.33.

PDD Price Performance

Shares of PDD stock opened at $95.91 on Tuesday. PDD has a one year low of $79.00 and a one year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09. The stock’s fifty day simple moving average is $136.31 and its 200 day simple moving average is $132.92. The firm has a market cap of $131.96 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 0.26 and a beta of 0.63.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. The firm’s quarterly revenue was up 85.7% on a year-over-year basis. During the same period last year, the firm posted $1.27 EPS. On average, analysts expect that PDD will post 11.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PDD

Hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC grew its stake in shares of PDD by 149.0% during the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after purchasing an additional 177,600 shares during the period. Hhlr Advisors LTD. boosted its holdings in PDD by 37.5% during the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after buying an additional 2,760,100 shares during the last quarter. Vanguard Group Inc. grew its position in shares of PDD by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after buying an additional 62,312 shares during the period. Truist Financial Corp increased its stake in shares of PDD by 12.8% in the 4th quarter. Truist Financial Corp now owns 3,143 shares of the company’s stock valued at $460,000 after acquiring an additional 357 shares during the last quarter. Finally, Connectus Wealth LLC raised its position in shares of PDD by 9.4% in the 4th quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock valued at $1,003,000 after acquiring an additional 590 shares during the period. 29.07% of the stock is owned by institutional investors.

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.