PDD (NASDAQ:PDD) Shares Up 1.2%

Shares of PDD Holdings Inc. (NASDAQ:PDD) rose 1.2% during trading on Tuesday . The stock traded as high as $99.40 and last traded at $98.34. Approximately 2,602,379 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 9,692,612 shares. The stock had previously closed at $97.20.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of research reports. Barclays cut their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Sanford C. Bernstein cut 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, August 27th. UBS Group upped their target price on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Macquarie cut PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, PDD presently has a consensus rating of “Buy” and a consensus target price of $177.78.

PDD Trading Up 1.8 %

The firm has a market cap of $137.56 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The business’s 50-day moving average price is $121.61 and its two-hundred day moving average price is $128.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11.

PDD (NASDAQ:PDD) last announced 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 return on equity of 48.14% and a net margin of 28.92%. The company had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same period in the prior year, the firm posted $1.27 earnings per share. The firm’s revenue was up 85.7% on a year-over-year basis. Equities analysts expect that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

Institutional Investors Weigh In On PDD

A number of hedge funds have recently bought and sold shares of PDD. Baillie Gifford & Co. lifted its stake in PDD by 1.0% in the second quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock valued at $4,670,322,000 after buying an additional 348,130 shares during the last quarter. Vanguard Group Inc. raised its position in PDD by 0.4% in the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after acquiring an additional 97,648 shares in the last quarter. Hhlr Advisors LTD. boosted its position in shares of PDD by 16.6% during the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock valued at $1,370,767,000 after purchasing an additional 1,680,600 shares in the last quarter. Assenagon Asset Management S.A. grew its position in PDD by 16.2% in the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock worth $786,237,000 after buying an additional 826,525 shares during the last quarter. Finally, Tairen Capital Ltd lifted its holdings in shares of PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock valued at $715,055,000 after purchasing an additional 1,788,076 shares during the last quarter. Institutional investors and hedge funds 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.