PDD (NASDAQ:PDD) Trading 3.9% Higher

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report)'s share price shot up 3.9% during mid-day trading on Monday . The stock traded as high as $119.82 and last traded at $117.88. 4,538,336 shares were traded during mid-day trading, a decline of 45% from the average session volume of 8,197,584 shares. The stock had previously closed at $113.49.

Analysts Set New Price Targets

Several research firms have weighed in on PDD. Jefferies Financial Group upped their price target on PDD from $157.00 to $161.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Citigroup upped their price target on PDD from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Barclays upped their price target on PDD from $164.00 to $178.00 and gave the stock an "overweight" rating in a research note on Thursday, March 21st. The Goldman Sachs Group downgraded PDD from a "buy" rating to a "neutral" rating and set a $136.00 price target for the company. in a research note on Monday, March 11th. Finally, Benchmark upped their price target on PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $146.85.

PDD Stock Up 9.4 %

The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $163.81 billion, a P/E ratio of 21.66, a P/E/G ratio of 0.29 and a beta of 0.67. The business has a 50-day moving average price of $122.17 and a 200 day moving average price of $126.24.

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

Institutional Trading of PDD

Several hedge funds and other institutional investors have recently bought and sold shares of PDD. Triasima Portfolio Management inc. purchased a new stake in PDD in the fourth quarter worth $1,813,000. Parametrica Management Ltd increased its stake in PDD by 67.6% in the third quarter. Parametrica Management Ltd now owns 41,400 shares of the company's stock worth $4,060,000 after purchasing an additional 16,700 shares during the period. Vanguard Group Inc. increased its stake in PDD by 38.0% in the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company's stock worth $2,363,645,000 after purchasing an additional 6,637,418 shares during the period. International Assets Investment Management LLC purchased a new stake in PDD in the fourth quarter worth $13,379,000. Finally, Nordea Investment Management AB increased its stake in PDD by 7.2% in the fourth quarter. Nordea Investment Management AB now owns 297,090 shares of the company's stock worth $43,334,000 after purchasing an additional 20,045 shares during the period. Hedge funds and other 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.