PDD (NASDAQ:PDD) Sees Strong Trading Volume

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) shares saw an uptick in trading volume on Monday . 4,248,446 shares changed hands during trading, a decline of 49% from the previous session's volume of 8,337,919 shares.The stock last traded at $140.90 and had previously closed at $136.27.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PDD. Barclays boosted their target price 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. Citigroup increased their target price on shares of PDD from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. decreased 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. Benchmark increased their target price on shares of PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Finally, Jefferies Financial Group increased 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. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $146.85.

PDD Stock Performance

The stock's fifty day simple moving average is $122.86 and its 200-day simple moving average is $128.81. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $193.34 billion, a PE ratio of 24.52, a PEG ratio of 0.35 and a beta of 0.67.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC increased its stake in PDD by 19.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 45,342 shares of the company's stock worth $5,271,000 after acquiring an additional 7,337 shares during the last quarter. Edgestream Partners L.P. increased its position in PDD by 50.8% during the 1st quarter. Edgestream Partners L.P. now owns 6,276 shares of the company's stock worth $730,000 after purchasing an additional 2,113 shares in the last quarter. Vanguard Group Inc. increased its position in PDD by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company's stock worth $2,820,408,000 after purchasing an additional 97,648 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in PDD by 122.9% in the first quarter. Jupiter Asset Management Ltd. now owns 141,064 shares of the company's stock valued at $16,399,000 after buying an additional 77,781 shares during the period. Finally, AI Squared Management Ltd lifted its position in PDD by 171.2% during the first quarter. AI Squared Management Ltd now owns 408,778 shares of the company's stock valued at $47,520,000 after buying an additional 258,043 shares in the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

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.