PDD (NASDAQ:PDD) Posts Quarterly Earnings Results, Beats Expectations By $8.92 EPS

PDD (NASDAQ:PDD - Get Free Report) posted its earnings results on Tuesday. The company reported $11.41 earnings per share for the quarter, topping the consensus estimate of $2.49 by $8.92, Briefing.com reports. PDD had a return on equity of 46.08% and a net margin of 29.05%. The firm had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. During the same period in the previous year, the company earned $20.72 EPS. The company's revenue for the quarter was up 10.2% on a year-over-year basis.

PDD Stock Performance

Shares of NASDAQ PDD traded down $1.56 during trading hours on Friday, reaching $96.73. The stock had a trading volume of 17,167,316 shares, compared to its average volume of 11,094,873. The business's fifty day moving average is $106.92 and its two-hundred day moving average is $108.79. PDD has a twelve month low of $87.11 and a twelve month high of $155.67. The company has a market cap of $134.66 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.32 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Institutional Trading of PDD

A hedge fund recently raised its stake in PDD stock. Intech Investment Management LLC lifted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,890 shares of the company's stock after purchasing an additional 395 shares during the period. Intech Investment Management LLC's holdings in PDD were worth $1,762,000 at the end of the most recent reporting period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Jefferies Financial Group set a $121.00 price target on PDD and gave the stock a "buy" rating in a report on Tuesday. Macquarie reiterated an "outperform" rating on shares of PDD in a report on Tuesday. Nomura reiterated a "neutral" rating and set a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $112.00 price target on shares of PDD in a report on Wednesday. Finally, China Renaissance reiterated a "hold" rating and set a $107.00 price target on shares of PDD in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.55.

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.