PDD's (PDD) "Buy" Rating Reiterated at Benchmark

Key Points

• Benchmark has reiterated a "buy" rating for PDD and raised its price target to $160.00, indicating a potential upside of 21.55% from the current price.
• Analysts maintain a consensus rating of "Moderate Buy" for PDD, with price targets ranging from $107.00 to $165.00 among different firms.
• PDD reported a missed earnings estimate for the quarter, posting $1.37 EPS against a consensus of $2.25, despite a 10.2% year-over-year revenue increase to $13.19 billion.

PDD (NASDAQ:PDD - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Benchmark in a report released on Tuesday,Benzinga reports. They presently have a $160.00 price target on the stock, up from their prior price target of $128.00. Benchmark's target price suggests a potential upside of 21.55% from the stock's current price.

Other equities analysts also recently issued reports about the company. Macquarie restated an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. China Renaissance reiterated a "hold" rating and set a $107.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Barclays upped their price objective on PDD from $158.00 to $165.00 and gave the company an "overweight" rating in a research report on Tuesday. Jefferies Financial Group set a $121.00 target price on PDD and gave the company a "buy" rating in a research report on Tuesday, May 27th. Finally, New Street Research downgraded PDD from a "buy" rating to a "neutral" rating and set a $120.00 target price on the stock. in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $145.75.

PDD Trading Up 2.7%

Shares of PDD opened at $131.6380 on Tuesday. The business's fifty day simple moving average is $110.86 and its two-hundred day simple moving average is $111.13. PDD has a 12 month low of $87.11 and a 12 month high of $155.67. The company has a market cap of $183.26 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.81 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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $103.37 billion. During the same quarter in the prior year, the business posted $20.72 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts forecast that PDD will post 10.24 EPS for the current year.

Institutional Investors Weigh In On PDD

Several large investors have recently added to or reduced their stakes in the stock. Focus Financial Network Inc. lifted its holdings in 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 period. Gunderson Capital Management Inc. lifted its holdings in 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 buying an additional 101 shares during the period. Lido Advisors LLC lifted its holdings in PDD by 4.6% during the second quarter. Lido Advisors LLC now owns 2,633 shares of the company's stock worth $276,000 after buying an additional 115 shares during the period. Signaturefd LLC lifted its holdings in 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 buying an additional 119 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in PDD by 2.8% during the first quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company's stock worth $625,000 after buying an additional 146 shares during the period. 39.83% of the stock is owned by institutional investors.

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.

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