PDD Holdings Inc. (NASDAQ:PDD) Receives Average Recommendation of “Moderate Buy” from Brokerages

PDD Holdings Inc. (NASDAQ:PDD) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $146.85.

Several analysts recently weighed in on the company. Citigroup boosted their price objective on PDD from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Jefferies Financial Group upped their target price on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Benchmark upped their target price on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. The Goldman Sachs Group cut PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target on the stock. in a report on Monday, March 11th. Finally, Barclays upped their price target on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, March 21st.

PDD Price Performance

Shares of PDD stock opened at $124.14 on Tuesday. The business’s fifty day moving average price is $122.17 and its 200 day moving average price is $126.24. The stock has a market capitalization of $163.81 billion, a P/E ratio of 21.66, a PEG ratio of 0.29 and a beta of 0.67. PDD has a twelve month low of $59.67 and a twelve month high of $152.99. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The business had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. As a group, research analysts anticipate that PDD will post 7.85 earnings per share for the current year.

Institutional Investors Weigh In On PDD

A number of large investors have recently bought and sold shares of PDD. Future Financial Wealth Managment LLC bought a new stake in PDD during the first quarter valued at about $29,000. SRS Capital Advisors Inc. increased its holdings in shares of PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PDD in the fourth quarter valued at approximately $59,000. EverSource Wealth Advisors LLC increased its holdings in shares of PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after purchasing an additional 101 shares in the last quarter. Finally, Turim 21 Investimentos Ltda. acquired a new stake in shares of PDD in the third quarter valued at approximately $55,000. 29.07% of the stock is currently owned by 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.