PDD (NASDAQ:PDD) Stock Price Up 0.3%

PDD Holdings Inc. (NASDAQ:PDD) rose 0.3% during trading on Friday . The stock traded as high as $101.04 and last traded at $100.25. Approximately 2,293,439 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 9,650,448 shares. The stock had previously closed at $99.98.

Analysts Set New Price Targets

PDD has been the topic of several research reports. Bank of America cut their target price on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Citigroup cut PDD from a “buy” rating to a “neutral” rating and cut their target price for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Jefferies Financial Group cut their target price on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Sanford C. Bernstein dropped their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $177.78.

PDD Trading Down 0.8 %

The business has a 50 day moving average of $120.82 and a two-hundred day moving average of $128.55. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. The firm has a market cap of $136.50 billion, a P/E ratio of 13.28, a PEG ratio of 0.24 and a beta of 0.69.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The business had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. During the same quarter in the prior year, the business earned $1.27 EPS. The firm’s revenue for the quarter was up 85.7% on a year-over-year basis. Analysts predict that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

Institutional Trading of PDD

Hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in PDD in the 4th quarter worth about $272,000. Avantax Advisory Services Inc. acquired a new stake in shares of PDD in the fourth quarter valued at approximately $249,000. Corient Private Wealth LLC raised its position in shares of PDD by 19.9% in the fourth quarter. Corient Private Wealth LLC now owns 8,148 shares of the company’s stock valued at $1,192,000 after buying an additional 1,350 shares in the last quarter. Dai ichi Life Insurance Company Ltd boosted its stake in shares of PDD by 6.4% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 13,868 shares of the company’s stock valued at $2,029,000 after buying an additional 836 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares in the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

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.