PDD (NASDAQ:PDD) Raised to “Strong-Buy” at Daiwa America

PDD (NASDAQ:PDD) was upgraded by Daiwa America to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

A number of other equities research analysts have also commented on PDD. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Barclays cut their price target on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday. Jefferies Financial Group lowered their price objective on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research report on Monday. Bank of America decreased their target price on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Sanford C. Bernstein dropped their price target on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $167.27.

PDD Stock Performance

Shares of PDD stock opened at $93.42 on Tuesday. The firm has a market capitalization of $128.53 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.26 and a beta of 0.63. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $134.24 and its 200-day moving average price is $132.39. PDD has a 12 month low of $88.01 and a 12 month high of $164.69.

PDD (NASDAQ:PDD) last posted its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. The business had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. The firm’s revenue was up 85.7% compared to the same quarter last year. During the same period last year, the company earned $1.27 EPS. Equities research analysts forecast that PDD will post 11.41 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of PDD in the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. lifted its position in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after buying an additional 233 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in PDD in the 1st quarter worth about $29,000. Mather Group LLC. raised its stake in PDD by 1,106.3% in the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in PDD during the fourth quarter valued at about $59,000. 29.07% of the stock is currently 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.