PDD (NASDAQ:PDD) PT Raised to $272.00 at UBS Group

PDD (NASDAQ:PDD) had its target price boosted by UBS Group from $248.00 to $272.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on PDD. Benchmark upped their price objective on PDD from $215.00 to $220.00 and gave the company a buy rating in a report on Thursday, March 21st. The Goldman Sachs Group lowered shares of PDD from a buy rating to a neutral rating and set a $136.00 price target on the stock. in a research report on Monday, March 11th. Jefferies Financial Group boosted their price objective on shares of PDD from $157.00 to $161.00 and gave the company a buy rating in a report on Thursday, March 21st. Barclays raised their target price on shares of PDD from $164.00 to $178.00 and gave the stock an overweight rating in a report on Thursday, March 21st. Finally, Citigroup boosted their price target on PDD from $170.00 to $185.00 and gave the company a buy rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $157.23.

PDD Stock Performance

NASDAQ PDD opened at $147.09 on Wednesday. The stock has a market cap of $202.38 billion, a PE ratio of 25.67, a P/E/G ratio of 0.38 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.93 and a current ratio of 1.93. The firm has a 50-day moving average of $127.04 and a 200-day moving average of $130.83. PDD has a 52-week low of $59.98 and a 52-week high of $156.50.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The firm had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. On average, sell-side analysts anticipate that PDD will post 7.85 EPS for the current year.

Hedge Funds Weigh In On PDD

A number of institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. acquired a new position in PDD during the third quarter worth about $285,000. Raymond James & Associates lifted its stake in PDD by 156.5% in the 3rd quarter. Raymond James & Associates now owns 8,736 shares of the company’s stock valued at $857,000 after purchasing an additional 5,330 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in PDD by 18.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 84,443 shares of the company’s stock valued at $8,281,000 after buying an additional 12,986 shares in the last quarter. Ieq Capital LLC grew its stake in shares of PDD by 19.8% during the third quarter. Ieq Capital LLC now owns 5,259 shares of the company’s stock worth $516,000 after buying an additional 870 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of PDD by 8.1% during the third quarter. Victory Capital Management Inc. now owns 860,389 shares of the company’s stock worth $84,378,000 after buying an additional 64,229 shares in the last quarter. Institutional investors and hedge funds 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.