PDD Holdings Inc. (NASDAQ:PDD) Receives Average Recommendation of “Moderate Buy” from Analysts

PDD Holdings Inc. (NASDAQ:PDD) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $146.85.

Several analysts have weighed in on PDD shares. JPMorgan Chase & Co. dropped their price target on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Benchmark boosted their price target on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. 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. Barclays boosted their price target on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, Jefferies Financial Group boosted their price target on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, March 21st.

PDD Trading Up 2.8 %

Shares of NASDAQ:PDD opened at $129.31 on Tuesday. The business’s 50-day moving average is $121.75 and its 200 day moving average is $126.67. PDD has a 1 year low of $59.67 and a 1 year high of $152.99. The firm has a market capitalization of $170.64 billion, a P/E ratio of 22.57, a P/E/G ratio of 0.33 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.81. The company had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. On average, research analysts predict that PDD will post 7.85 earnings per share for the current fiscal year.

Institutional Trading of PDD

A number of hedge funds have recently modified their holdings of the stock. SRS Capital Advisors Inc. raised its holdings in PDD by 294.4% in the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the period. Future Financial Wealth Managment LLC acquired a new position in PDD in the 1st quarter worth about $29,000. Turim 21 Investimentos Ltda. acquired a new position in PDD in the 3rd quarter worth about $55,000. Gordian Capital Singapore Pte Ltd acquired a new position in PDD in the 4th quarter worth about $59,000. Finally, EverSource Wealth Advisors LLC raised its holdings in PDD by 31.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors 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.