PDD (NASDAQ:PDD) Sets New 52-Week High at $156.50

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $156.50 and last traded at $154.05, with a volume of 12496239 shares. The stock had previously closed at $145.45.

Analysts Set New Price Targets

PDD has been the subject of a number of analyst reports. UBS Group lifted their price objective on PDD from $248.00 to $272.00 and gave the stock a "buy" rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on PDD from $157.00 to $161.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Citigroup boosted their target price on PDD from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. The Goldman Sachs Group cut PDD from a "buy" rating to a "neutral" rating and set a $136.00 target price for the company. in a research note on Monday, March 11th. Finally, Barclays boosted their target price on PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $157.23.

PDD Stock Performance

The company has a market capitalization of $202.38 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 0.38 and a beta of 0.67. The stock has a 50-day moving average price of $127.04 and a 200-day moving average price of $130.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.93.

PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to analysts' expectations of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. As a group, analysts forecast that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

Institutional Trading of PDD

Several hedge funds have recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. increased 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 acquiring an additional 209 shares during the period. Future Financial Wealth Managment LLC bought a new position in PDD during the 1st quarter worth $29,000. Turim 21 Investimentos Ltda. bought a new position in PDD during the 3rd quarter worth $55,000. Gordian Capital Singapore Pte Ltd bought a new position in PDD during the 4th quarter worth $59,000. Finally, EverSource Wealth Advisors LLC increased its stake in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company's stock worth $62,000 after acquiring an additional 101 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.