PDD (NASDAQ:PDD) Price Target Increased to $198.00 by Analysts at Citigroup

PDD (NASDAQ:PDD) had its target price boosted by equities research analysts at Citigroup from $185.00 to $198.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 27.09% from the stock’s current price.

PDD has been the subject of several other research reports. Bank of America raised their price objective on shares of PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group raised their price target on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Jefferies Financial Group raised their price target on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Sanford C. Bernstein lifted their target price on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, PDD presently has an average rating of “Moderate Buy” and a consensus price target of $175.08.

PDD Stock Performance

Shares of NASDAQ PDD traded up $8.70 during mid-day trading on Thursday, hitting $155.79. The company had a trading volume of 17,731,993 shares, compared to its average volume of 8,848,501. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.93. The business’s 50-day simple moving average is $127.04 and its 200-day simple moving average is $130.83. PDD has a 12 month low of $59.98 and a 12 month high of $160.00. The firm has a market cap of $214.35 billion, a P/E ratio of 27.13, a PEG ratio of 0.38 and a beta of 0.67.

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

Institutional Investors Weigh In On PDD

Several institutional investors have recently added to or reduced their stakes in PDD. SC US Ttgp LTD. lifted its position in PDD by 1,414.4% during the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after buying an additional 45,048,300 shares in the last quarter. Baillie Gifford & Co. lifted its position in PDD by 6.4% during the 4th quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock worth $5,553,962,000 after buying an additional 2,292,068 shares in the last quarter. Vanguard Group Inc. lifted its position in PDD by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after buying an additional 97,648 shares in the last quarter. FMR LLC lifted its position in PDD by 32.6% during the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after buying an additional 4,334,186 shares in the last quarter. Finally, Hhlr Advisors LTD. lifted its position in PDD by 16.6% during the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after buying an additional 1,680,600 shares in the last quarter. 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.