PDD (NASDAQ:PDD) Releases Earnings Results

Key Points

• PDD beat earnings expectations, reporting quarterly EPS of $2.84 versus the $2.73 consensus estimate. However, revenue of $16.54 billion fell short of analysts’ $16.94 billion forecast.
• PDD shares opened at $88.38, with a market capitalization of approximately $125.8 billion and a 52-week range of $71.94 to $139.41.
• Analyst sentiment is mixed, with seven Buy, seven Hold, and two Sell ratings; the stock has a consensus rating of Hold and an average price target of $124.64.

PDD (NASDAQ:PDD - Get Free Report) released its quarterly earnings results on Monday. The company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $0.11, FiscalAI reports. The firm had revenue of $16.54 billion during the quarter, compared to analysts' expectations of $16.94 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.

PDD Stock Performance

PDD opened at $88.38 on Monday. The stock has a market cap of $125.80 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.72 and a beta of 0.02. The stock has a fifty day moving average price of $84.51 and a 200 day moving average price of $93.56. PDD has a 1 year low of $71.94 and a 1 year high of $139.41.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PDD. Zacks Research downgraded PDD from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Benchmark cut their target price on shares of PDD from $160.00 to $127.00 and set a "buy" rating on the stock in a report on Thursday, May 28th. BNP Paribas Exane initiated coverage on PDD in a research report on Monday, June 15th. They set an "underperform" rating and a $89.00 price objective for the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of PDD in a research note on Wednesday, May 27th. Finally, Daiwa Securities Group reiterated a "hold" rating and set a $80.00 price objective on shares of PDD in a research report on Tuesday, June 23rd. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, PDD presently has a consensus rating of "Hold" and an average target price of $124.64.

Hedge Funds Weigh In On PDD

Hedge funds have recently bought and sold shares of the business. Binnacle Investments Inc raised its stake in shares of 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 acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of PDD by 230.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company's stock worth $43,000 after purchasing an additional 263 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in PDD in the 4th quarter valued at $44,000. Wexford Capital LP bought a new stake in PDD in the third quarter valued at about $44,000. Finally, Larson Financial Group LLC raised its holdings in shares of PDD by 720.4% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company's stock worth $53,000 after buying an additional 353 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

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.

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