PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Of 16 brokerages covering PDD, seven rate the stock a buy, seven a hold and two a sell. The average 12-month price target is $124.64.
• Recent analyst actions were mixed, with Goldman Sachs and Jefferies reaffirming buy ratings while Barclays downgraded PDD to equal weight and cut its target to $89; other firms also lowered price targets.
• PDD reported quarterly EPS of $1.38, missing the $2.40 consensus estimate, while revenue of $15.41 billion also fell short of forecasts. Despite the earnings miss, revenue increased 11% year over year, and the stock recently traded at $88.56.

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Get Free Report) have been given an average rating of "Hold" by the sixteen brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $124.6429.

A number of analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of PDD in a research note on Thursday, May 28th. Jefferies Financial Group reiterated a "buy" rating on shares of PDD in a research note on Wednesday, May 27th. Benchmark cut their price objective on PDD from $160.00 to $127.00 and set a "buy" rating on the stock in a report on Thursday, May 28th. Barclays lowered PDD from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Finally, Sanford C. Bernstein lowered their target price on PDD from $132.00 to $110.00 and set a "market perform" rating for the company in a report on Wednesday, May 27th.

Institutional Trading of PDD

Several hedge funds and other institutional investors have recently made changes to their positions in PDD. Binnacle Investments Inc raised its holdings in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company's stock valued at $36,000 after buying an additional 200 shares during the last quarter. Grove Bank & Trust bought a new stake in PDD during the 2nd quarter worth approximately $38,000. Smartleaf Asset Management LLC increased its position in PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company's stock valued at $43,000 after acquiring an additional 263 shares during the period. Wexford Capital LP acquired a new position in PDD in the 3rd quarter valued at approximately $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of PDD during the fourth quarter valued at $44,000. 39.83% of the stock is currently owned by institutional investors.

PDD Trading Up 1.3%

PDD opened at $88.56 on Friday. The company has a market cap of $126.06 billion and a P/E ratio of 9.56. The company's 50 day moving average is $83.46 and its 200-day moving average is $95.48. PDD has a 1-year low of $71.94 and a 1-year high of $139.41.

PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.40 by ($1.02). The company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.PDD's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.57 earnings per share. On average, equities analysts forecast that PDD will post 9.7 EPS for the current year.

PDD Company Profile

PDD NASDAQ: PDD is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.