PDD Holdings Inc. (NASDAQ:PDD) Receives $182.40 Consensus Price Target from Brokerages

PDD Holdings Inc. (NASDAQ:PDD) has earned an average rating of “Buy” from the twelve analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $182.40.

Several research firms recently commented on PDD. Daiwa America upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Barclays reduced their target price on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Sanford C. Bernstein dropped their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Bank of America reduced their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $126.00 to $224.00 in a research report on Monday, October 7th.

PDD Price Performance

PDD stock opened at $114.00 on Friday. The firm has a market cap of $156.85 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 0.27 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD has a 1 year low of $88.01 and a 1 year high of $164.69. The stock has a 50-day simple moving average of $121.17 and a 200-day simple moving average of $130.62.

PDD (NASDAQ:PDD) last issued its quarterly earnings data 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 company had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. PDD’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same quarter last year, the company earned $1.27 earnings per share. On average, equities analysts predict that PDD will post 11.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PDD

Several hedge funds have recently modified their holdings of PDD. Prime Capital Investment Advisors LLC lifted its holdings in shares of PDD by 5.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock valued at $244,000 after purchasing an additional 89 shares in the last quarter. Ballentine Partners LLC lifted its stake in PDD by 4.6% in the 2nd 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. Parallel Advisors LLC boosted its position in PDD by 5.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after acquiring an additional 122 shares during the period. Legacy Capital Group California Inc. grew its stake in PDD by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock valued at $277,000 after acquiring an additional 133 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its holdings in shares of PDD by 6.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $354,000 after purchasing an additional 166 shares during the period. 29.07% of the stock is owned by hedge funds and other 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.