PDD (NASDAQ:PDD) Price Target Increased to $224.00 by Analysts at Barclays

PDD (NASDAQ:PDD) had its target price lifted by Barclays from $178.00 to $224.00 in a report issued on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

PDD has been the topic of a number of other research reports. Bank of America boosted their target price on PDD from $191.00 to $206.00 and gave the stock a buy rating in a research note on Thursday. JPMorgan Chase & Co. reduced 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. Benchmark raised their price objective on shares of PDD from $220.00 to $230.00 and gave the company a buy rating in a research report on Thursday. Jefferies Financial Group boosted their target price on shares of PDD from $157.00 to $161.00 and gave the stock a buy rating in a report on Thursday, March 21st. Finally, Sanford C. Bernstein upped their price target on shares of PDD from $180.00 to $235.00 and gave the stock an outperform rating in a research report on Thursday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $182.31.

PDD Trading Up 2.6 %

PDD stock traded up $3.94 during mid-day trading on Friday, hitting $157.57. The stock had a trading volume of 19,118,752 shares, compared to its average volume of 10,809,987. PDD has a 12 month low of $59.98 and a 12 month high of $164.69. The stock has a 50-day simple moving average of $128.33 and a two-hundred day simple moving average of $131.34. The company has a current ratio of 2.09, a quick ratio of 1.93 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $216.80 billion, a PE ratio of 20.87, a P/E/G ratio of 0.40 and a beta of 0.67.

PDD (NASDAQ:PDD) last issued its earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping the consensus estimate of $1.42 by $0.81. PDD had a return on equity of 45.04% and a net margin of 26.93%. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. As a group, sell-side analysts forecast that PDD will post 7.85 EPS for the current year.

Hedge Funds Weigh In On PDD

Hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. grew its stake in shares of PDD by 2.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock valued at $491,000 after buying an additional 66 shares in the last quarter. Johnson Investment Counsel Inc. grew its position in PDD by 2.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after acquiring an additional 78 shares during the period. Checchi Capital Advisers LLC grew its holdings in shares of PDD by 2.6% during the first quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock worth $444,000 after purchasing an additional 98 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of PDD by 31.0% during the fourth 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 last quarter. Finally, PDS Planning Inc grew its holdings in shares of PDD by 5.2% during the fourth quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock worth $341,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds 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.