Jefferies Financial Group Has Lowered Expectations for PDD (NASDAQ:PDD) Stock Price

PDD (NASDAQ:PDD) had its price target decreased by Jefferies Financial Group from $181.00 to $171.00 in a report published on Thursday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other research firms have also commented on PDD. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America lowered their target price on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and upped their price target for the company from $126.00 to $224.00 in a report on Monday, October 7th. Benchmark cut their target price on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Barclays reduced their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $173.40.

PDD Stock Down 3.9 %

PDD opened at $100.07 on Thursday. The stock’s 50 day moving average price is $123.24 and its 200 day moving average price is $129.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a market cap of $137.68 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.25 and a beta of 0.71. PDD has a 12 month low of $88.01 and a 12 month high of $164.69.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 49.53% and a net margin of 29.05%. The company had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same quarter in the prior year, the business posted $1.27 earnings per share. The company’s revenue for the quarter was up 85.7% compared to the same quarter last year. As a group, research analysts predict that PDD will post 11.19 earnings per share for the current year.

Institutional Investors Weigh In On PDD

Several large investors have recently made changes to their positions in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of PDD by 1,374.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares during the last quarter. H&H International Investment LLC lifted its stake in shares of PDD by 3,693.8% in the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after purchasing an additional 3,804,600 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in PDD by 107.8% in the second quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock worth $487,984,000 after purchasing an additional 1,904,155 shares in the last quarter. Tairen Capital Ltd increased its position in PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after buying an additional 1,788,076 shares during the last quarter. Finally, FMR LLC raised its holdings in PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after buying an additional 1,654,764 shares in the last quarter. Institutional investors 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.