PDD Holdings Inc. (NASDAQ:PDD) Given Consensus Rating of “Moderate Buy” by Brokerages

PDD Holdings Inc. (NASDAQ:PDD) has received an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $146.85.

PDD has been the subject of several recent research reports. Benchmark lifted their target price on shares of 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 objective for the company. in a report on Monday, March 11th. Jefferies Financial Group lifted their target price on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. cut their price objective on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Finally, Citigroup boosted their price objective on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, March 21st.

PDD Stock Performance

PDD stock opened at $124.14 on Tuesday. The stock’s 50 day simple moving average is $122.17 and its two-hundred day simple moving average is $126.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 1.93. The stock has a market cap of $163.81 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 0.29 and a beta of 0.67. PDD has a fifty-two week low of $59.67 and a fifty-two week high of $152.99.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.81. The business had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. As a group, analysts expect that PDD will post 7.85 earnings per share for the current fiscal year.

Institutional Trading of PDD

Hedge funds have recently bought and sold shares of the stock. PFG Investments LLC purchased a new stake in PDD during the first quarter valued at approximately $605,000. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd purchased a new position in shares of PDD during the first quarter worth $2,275,000. Norden Group LLC purchased a new position in shares of PDD during the first quarter worth $1,289,000. Naviter Wealth LLC acquired a new stake in PDD during the first quarter valued at $1,118,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in PDD during the first quarter valued at $1,656,000. Hedge funds and other 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.