PDD Holdings Inc. (NASDAQ:PDD – Get Free Report) has been given an average rating of “Buy” by the twelve brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $177.78.
Several equities analysts have recently weighed in on the company. UBS Group raised their price target on PDD from $248.00 to $272.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $194.00 to $120.00 in a report on Tuesday. Jefferies Financial Group cut their price target on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Finally, Barclays cut their target price on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday.
Check Out Our Latest Report on PDD
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PDD Trading Up 2.9 %
Shares of PDD opened at $96.11 on Monday. PDD has a 1-year low of $88.01 and a 1-year high of $164.69. The firm’s 50-day moving average price is $133.23 and its 200-day moving average price is $132.12. 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 firm has a market capitalization of $132.24 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.26 and a beta of 0.63.
PDD (NASDAQ:PDD – Get Free Report) last announced its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 26.93% and a return on equity of 45.04%. The firm had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. During the same quarter in the previous year, the business posted $1.27 EPS. The company’s quarterly revenue was up 85.7% on a year-over-year basis. Sell-side analysts anticipate that PDD will post 11.41 EPS for the current year.
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.
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