PDD Holdings Inc. (NASDAQ:PDD) Receives $182.40 Average Price Target from Brokerages

PDD Holdings Inc. (NASDAQ:PDD) has been given a consensus recommendation of “Buy” by the twelve ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $182.40.

A number of research firms have commented on PDD. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Sanford C. Bernstein reduced their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th.

PDD Trading Up 0.2 %

NASDAQ:PDD opened at $124.86 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $171.79 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 0.33 and a beta of 0.71. The firm has a fifty day simple moving average of $120.96 and a two-hundred day simple moving average of $130.65. PDD has a 12 month low of $88.01 and a 12 month high of $164.69.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business’s quarterly revenue was up 85.7% on a year-over-year basis. During the same period last year, the company posted $1.27 earnings per share. Analysts expect that PDD will post 11.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in shares of PDD by 1.0% during the second quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock valued at $4,670,322,000 after purchasing an additional 348,130 shares in the last quarter. Vanguard Group Inc. raised its position in PDD by 0.4% in the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after acquiring an additional 97,648 shares during the period. Hhlr Advisors LTD. raised its position in PDD by 16.6% in the first quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after acquiring an additional 1,680,600 shares during the period. Assenagon Asset Management S.A. raised its position in PDD by 16.2% in the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock worth $786,237,000 after acquiring an additional 826,525 shares during the period. Finally, Tairen Capital Ltd raised its position in PDD by 49.8% in the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after acquiring an additional 1,788,076 shares during the period. 29.07% of the stock is owned by institutional investors.

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.