PDD (NASDAQ:PDD) Price Target Raised to $235.00

PDD (NASDAQ:PDD) had its price target increased by Sanford C. Bernstein from $180.00 to $235.00 in a report released on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. Barclays raised 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. Benchmark upped their price objective on PDD from $215.00 to $220.00 and gave the company a buy rating in a research report on Thursday, March 21st. UBS Group lifted their target price on PDD from $248.00 to $272.00 and gave the stock a buy rating in a research report on Wednesday, May 22nd. Jefferies Financial Group raised their price target on shares of PDD from $157.00 to $161.00 and gave the stock a buy rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group cut shares of PDD from a buy rating to a neutral rating and set a $136.00 price objective for the company. in a research report on Monday, March 11th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, PDD currently has a consensus rating of Buy and a consensus price target of $182.31.

PDD Stock Performance

NASDAQ:PDD opened at $157.57 on Thursday. The firm has a market capitalization of $216.80 billion, a PE ratio of 20.87, a PEG ratio of 0.41 and a beta of 0.67. The stock’s fifty day moving average is $128.33 and its 200 day moving average is $131.64. PDD has a fifty-two week low of $59.98 and a fifty-two week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.93 and a current ratio of 2.09.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The business had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. On average, sell-side analysts anticipate that PDD will post 7.85 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SRS Capital Advisors Inc. grew its stake in PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after buying an additional 209 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD during the first quarter worth about $29,000. Turim 21 Investimentos Ltda. acquired a new position in shares of PDD during the third quarter valued at about $55,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PDD in the 4th quarter valued at approximately $59,000. Finally, EverSource Wealth Advisors LLC boosted its stake 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 in the last quarter. Institutional investors own 29.07% of the company’s stock.

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.