PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fourteen ratings firms that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $144.55.

Several research firms have recently commented on PDD. JPMorgan Chase & Co. lowered their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. China Renaissance reiterated a "hold" rating and issued a $107.00 price target on shares of PDD in a research note on Wednesday, May 28th. Macquarie reiterated an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Finally, Barclays cut shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st.

Institutional Investors Weigh In On PDD

Several institutional investors and hedge funds have recently added to or reduced their stakes in PDD. Focus Financial Network Inc. lifted its holdings in shares of PDD by 4.3% during the second quarter. Focus Financial Network Inc. now owns 2,376 shares of the company's stock worth $249,000 after buying an additional 97 shares during the last quarter. Gunderson Capital Management Inc. grew its holdings in shares of PDD by 5.5% during the second quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company's stock worth $203,000 after purchasing an additional 101 shares during the last quarter. Signaturefd LLC grew its holdings in shares of PDD by 1.3% during the first quarter. Signaturefd LLC now owns 8,957 shares of the company's stock worth $1,060,000 after purchasing an additional 119 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in PDD by 2.8% in the first quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company's stock valued at $625,000 after acquiring an additional 146 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in PDD by 11.5% in the first quarter. Lindbrook Capital LLC now owns 1,930 shares of the company's stock valued at $228,000 after acquiring an additional 199 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

NASDAQ PDD traded up $0.41 during mid-day trading on Wednesday, reaching $118.62. 3,147,659 shares of the stock were exchanged, compared to its average volume of 9,194,665. The business's 50 day moving average is $106.15 and its 200-day moving average is $109.43. PDD has a 1 year low of $87.11 and a 1 year high of $155.67. The company has a market capitalization of $165.13 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.66 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). PDD had a net margin of 24.63% and a return on equity of 33.76%. The business had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. During the same quarter last year, the company earned $20.72 earnings per share. PDD's quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts predict that PDD will post 10.24 earnings per share for the current fiscal year.

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.