PDD (NASDAQ:PDD) Share Price Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• PDD shares rose above their 50-day moving average, reaching $83.15 before closing at $81.68, compared with a 50-day average of $80.16. However, the stock remained below its 200-day average of $91.02.
• Analyst sentiment is mixed but leans toward caution: six analysts rate PDD a Buy, nine a Hold and one a Sell, resulting in a consensus Hold rating and a $110.31 average price target.
• PDD reported quarterly EPS of $2.84 on $16.54 billion in revenue, with a 20.73% net margin and 22.29% return on equity. Institutional investors own approximately 39.83% of the company.

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Get Free Report) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $80.16 and traded as high as $83.15. PDD shares last traded at $81.68, with a volume of 7,508,816 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PDD shares. Bank of America reissued a "neutral" rating on shares of PDD in a research report on Wednesday, August 26th. Arete Research cut PDD from a "buy" rating to a "neutral" rating and set a $93.00 price objective for the company. in a report on Monday, September 7th. Weiss Ratings upgraded PDD from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, October 27th. JPMorgan Chase & Co. reduced their target price on PDD from $110.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, September 10th. Finally, Zacks Research upgraded PDD from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of "Hold" and a consensus price target of $110.31.

PDD Stock Performance

The stock's fifty day moving average price is $80.16 and its two-hundred day moving average price is $91.02. The company has a market cap of $116.26 billion, a P/E ratio of 9.00, a P/E/G ratio of 0.61 and a beta of -0.05.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. The business had revenue of $16.54 billion for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. On average, equities research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.02 EPS for the current year.

Institutional Investors Weigh In On PDD

A number of large investors have recently modified their holdings of PDD. H&H International Investment LLC increased its holdings in shares of PDD by 71.2% during the first quarter. H&H International Investment LLC now owns 19,748,294 shares of the company's stock worth $2,017,881,000 after buying an additional 8,211,600 shares in the last quarter. Temasek Holdings Private Ltd boosted its holdings in shares of PDD by 5.2% during the 1st quarter. Temasek Holdings Private Ltd now owns 4,926,061 shares of the company's stock valued at $503,345,000 after acquiring an additional 243,167 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of PDD by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,737,229 shares of the company's stock valued at $381,496,000 after acquiring an additional 252,537 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in PDD during the 3rd quarter worth $202,907,000. Finally, Perseverance Asset Management International grew its position in PDD by 10.2% during the 1st quarter. Perseverance Asset Management International now owns 2,161,676 shares of the company's stock worth $220,880,000 after acquiring an additional 199,584 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Company Profile

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company's platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings' businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.

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