PDD (NASDAQ:PDD) Trading Down 1%

PDD Holdings Inc. (NASDAQ:PDD)’s stock price traded down 1% during mid-day trading on Monday . The company traded as low as $93.99 and last traded at $94.03. 2,145,349 shares changed hands during trading, a decline of 78% from the average session volume of 9,694,877 shares. The stock had previously closed at $94.99.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of recent research reports. Sanford C. Bernstein dropped their target price on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. The Goldman Sachs Group raised 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 research report on Friday, May 24th. Macquarie downgraded shares of PDD from an “outperform” rating to a “neutral” rating in a research report on Monday, August 26th. Finally, Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and lowered their price target for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Two 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 company. According to MarketBeat.com, PDD has an average rating of “Buy” and a consensus price target of $177.78.

PDD Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market capitalization of $135.15 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The business has a fifty day simple moving average of $122.40 and a 200 day simple moving average of $128.97.

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

Hedge Funds Weigh In On PDD

A number of hedge funds have recently added to or reduced their stakes in PDD. Jump Financial LLC bought a new position in shares of PDD in the 4th quarter valued at $272,000. Avantax Advisory Services Inc. acquired a new position in shares of PDD during the fourth quarter worth approximately $249,000. Gladstone Institutional Advisory LLC bought a new position in shares of PDD in the fourth quarter valued at $872,000. Balentine LLC increased its holdings in PDD by 19.8% during the 4th quarter. Balentine LLC now owns 5,969 shares of the company’s stock worth $873,000 after purchasing an additional 987 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in PDD by 19.9% in the 4th 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 during the last quarter. 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.