PDD (NASDAQ:PDD - Get Free Report) had its target price increased by research analysts at Barclays from $158.00 to $165.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's target price points to a potential upside of 28.70% from the company's previous close.
A number of other equities research analysts also recently weighed in on the company. Citigroup raised PDD from a "neutral" rating to a "buy" rating and raised their price objective for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Benchmark dropped their price objective on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. China Renaissance reaffirmed a "hold" rating and set a $107.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Finally, New Street Research downgraded PDD from a "buy" rating to a "neutral" rating and set a $120.00 price objective on the stock. in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $143.08.
View Our Latest Research Report on PDD
PDD Trading Up 0.9%
PDD opened at $128.21 on Tuesday. PDD has a 12-month low of $87.11 and a 12-month high of $155.67. The business's fifty day simple moving average is $110.86 and its 200-day simple moving average is $111.13. The company has a market capitalization of $178.49 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.81 and a beta of 0.42.
PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). PDD had a return on equity of 33.76% and a net margin of 24.63%.The firm had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $103.37 billion. During the same period in the previous year, the company posted $20.72 EPS. PDD's quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that PDD will post 10.24 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. Focus Financial Network Inc. raised its stake in shares of PDD by 4.3% in the second quarter. Focus Financial Network Inc. now owns 2,376 shares of the company's stock worth $249,000 after purchasing an additional 97 shares during the last quarter. Gunderson Capital Management Inc. raised its stake in shares of PDD by 5.5% in 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. Lido Advisors LLC raised its stake in shares of PDD by 4.6% in the second quarter. Lido Advisors LLC now owns 2,633 shares of the company's stock worth $276,000 after purchasing an additional 115 shares during the last quarter. Signaturefd LLC raised its stake in shares of PDD by 1.3% in 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. Finally, Advisors Asset Management Inc. raised its stake in shares of PDD by 2.8% in the first quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company's stock worth $625,000 after purchasing an additional 146 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.
PDD Company Profile
(
Get Free Report)
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.
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