PDD (NASDAQ:PDD) Upgraded by Daiwa America to “Strong-Buy”

Daiwa America upgraded shares of PDD (NASDAQ:PDD) to a strong-buy rating in a report issued on Tuesday, Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Sanford C. Bernstein decreased their price objective on shares of PDD from $235.00 to $170.00 and set an outperform rating for the company in a report on Tuesday. Macquarie lowered PDD from an outperform rating to a neutral rating in a report on Monday. Jefferies Financial Group cut their price objective on PDD from $193.00 to $151.00 and set a buy rating on the stock in a report on Monday. The Goldman Sachs Group raised PDD from a neutral rating to a buy rating and increased their target price for the stock from $145.00 to $184.00 in a research note on Friday, May 24th. Finally, Benchmark lowered their price objective on shares of PDD from $230.00 to $185.00 and set a buy rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $167.27.

PDD Stock Up 4.8 %

NASDAQ PDD opened at $93.42 on Tuesday. The stock has a fifty day moving average of $134.24 and a 200-day moving average of $132.39. The stock has a market capitalization of $128.53 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.26 and a beta of 0.63. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a net margin of 26.93% and a return on equity of 45.04%. The company had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same quarter in the previous year, the company earned $1.27 EPS. PDD’s revenue was up 85.7% on a year-over-year basis. On average, equities research analysts forecast that PDD will post 11.41 EPS for the current year.

Hedge Funds Weigh In On PDD

Hedge funds and other institutional investors have recently modified their holdings of the business. Johnson Investment Counsel Inc. boosted its position in PDD by 2.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after acquiring an additional 78 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in shares of PDD by 2.6% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock worth $444,000 after purchasing an additional 98 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in 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 acquiring an additional 101 shares in the last quarter. Ballentine Partners LLC boosted its holdings in PDD by 4.6% in the second quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock worth $359,000 after acquiring an additional 120 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in PDD by 5.3% in the second quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock valued at $324,000 after acquiring an additional 122 shares during the period. 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.