Citigroup Raises PDD (NASDAQ:PDD) Price Target to $198.00

PDD (NASDAQ:PDD - Get Free Report) had its price objective upped by investment analysts at Citigroup from $185.00 to $198.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price target would suggest a potential upside of 28.88% from the company's previous close.

Several other analysts also recently weighed in on the company. Sanford C. Bernstein upped their price objective on PDD from $180.00 to $235.00 and gave the stock an "outperform" rating in a research report on Thursday. Jefferies Financial Group upped their price target on shares of PDD from $157.00 to $161.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Barclays lifted their price target on PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. UBS Group upped their price objective on PDD from $248.00 to $272.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on shares of PDD from $195.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $175.08.

PDD Price Performance

Shares of PDD stock traded up $6.54 during trading on Thursday, hitting $153.63. The company had a trading volume of 21,394,413 shares, compared to its average volume of 8,887,928. The firm has a market capitalization of $211.37 billion, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 0.38 and a beta of 0.67. PDD has a one year low of $59.98 and a one year high of $160.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.93 and a current ratio of 1.93. The stock's 50-day moving average price is $127.04 and its 200 day moving average price is $130.83.

PDD (NASDAQ:PDD - Get Free Report) last released its earnings results 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 firm had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. Equities analysts expect that PDD will post 7.85 EPS for the current fiscal year.

Hedge Funds Weigh In On PDD

Several institutional investors have recently modified their holdings of PDD. SC US Ttgp LTD. increased its position in PDD by 1,414.4% in the third 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 during the last quarter. Baillie Gifford & Co. raised its position in shares of PDD by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company's stock valued at $5,553,962,000 after purchasing an additional 2,292,068 shares during the period. Vanguard Group Inc. lifted its stake in shares of PDD by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company's stock valued at $2,820,408,000 after buying an additional 97,648 shares in the last quarter. FMR LLC boosted its holdings in PDD by 32.6% in 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 during the period. Finally, Hhlr Advisors LTD. grew its stake in PDD by 16.6% in the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company's stock valued at $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.