PDD (NASDAQ:PDD) PT Raised to $272.00 at UBS Group

PDD (NASDAQ:PDD) had its price objective hoisted by UBS Group from $248.00 to $272.00 in a research report released on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research analysts have also commented on the stock. Jefferies Financial Group raised their price objective on shares of PDD from $157.00 to $161.00 and gave the company a buy rating in a research note on Thursday, March 21st. Citigroup lifted their target price on PDD from $170.00 to $185.00 and gave the stock a buy rating in a report on Thursday, March 21st. The Goldman Sachs Group downgraded shares of PDD from a buy rating to a neutral rating and set a $136.00 price target for the company. in a report on Monday, March 11th. Barclays lifted their price objective on shares of PDD from $164.00 to $178.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of PDD from $195.00 to $190.00 and set an overweight rating for the company in a research note on Thursday, March 21st. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, PDD currently has an average rating of Buy and a consensus target price of $182.31.

PDD Price Performance

NASDAQ PDD opened at $157.57 on Wednesday. The company has a 50-day moving average price of $128.33 and a two-hundred day moving average price of $131.49. The stock has a market cap of $216.80 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 0.40 and a beta of 0.67. The company has a current ratio of 2.09, a quick ratio of 1.93 and a debt-to-equity ratio of 0.02. PDD has a 52 week low of $59.98 and a 52 week high of $164.69.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. Analysts forecast that PDD will post 7.85 EPS for the current year.

Institutional Trading of PDD

Several large investors have recently added to or reduced their stakes in PDD. Cambridge Investment Research Advisors Inc. purchased a new position in PDD during the 3rd quarter valued at about $285,000. Raymond James & Associates grew its position in PDD by 156.5% during the third quarter. Raymond James & Associates now owns 8,736 shares of the company’s stock valued at $857,000 after purchasing an additional 5,330 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in PDD by 18.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 84,443 shares of the company’s stock valued at $8,281,000 after buying an additional 12,986 shares during the period. Ieq Capital LLC lifted its position in PDD by 19.8% in the 3rd quarter. Ieq Capital LLC now owns 5,259 shares of the company’s stock worth $516,000 after buying an additional 870 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of PDD by 8.1% during the 3rd quarter. Victory Capital Management Inc. now owns 860,389 shares of the company’s stock valued at $84,378,000 after buying an additional 64,229 shares during the period. 29.07% of the stock is owned by institutional investors and hedge funds.

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.