PDD (NASDAQ:PDD) Shares Down 0.6%

PDD Holdings Inc. (NASDAQ:PDD)’s stock price was down 0.6% during trading on Monday . The company traded as low as $142.06 and last traded at $142.97. Approximately 1,355,467 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 8,851,364 shares. The stock had previously closed at $143.86.

Analysts Set New Price Targets

Several research firms have issued reports on PDD. JPMorgan Chase & Co. cut their price target 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. Sanford C. Bernstein raised their price target on PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $184.00 in a research note on Friday, May 24th. UBS Group raised their target price on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, Benchmark upped their price target on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, PDD currently has a consensus rating of “Buy” and an average price target of $188.33.

PDD Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. The business’s 50-day moving average is $140.29 and its 200-day moving average is $134.94. The company has a market capitalization of $190.19 billion, a PE ratio of 18.31, a PEG ratio of 0.24 and a beta of 0.64.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $1.19. The firm had revenue of $12.02 billion during the quarter, compared to analyst estimates of $10.62 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. On average, research analysts anticipate that PDD Holdings Inc. will post 11.41 earnings per share for the current year.

Institutional Investors Weigh In On PDD

A number of large investors have recently added to or reduced their stakes in PDD. SRS Capital Advisors Inc. lifted its position in PDD by 294.4% during 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. Future Financial Wealth Managment LLC purchased a new position in shares of PDD during the 1st quarter valued at about $29,000. Turim 21 Investimentos Ltda. bought a new position in shares of PDD during the 3rd quarter valued at approximately $55,000. Gordian Capital Singapore Pte Ltd purchased a new stake in PDD in the 4th quarter worth approximately $59,000. Finally, EverSource Wealth Advisors LLC raised its stake in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after acquiring an additional 101 shares during the period. 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.