PDD (NASDAQ:PDD) Trading 1.7% Higher

Shares of PDD Holdings Inc. (NASDAQ:PDD) traded up 1.7% during trading on Monday . The stock traded as high as $136.74 and last traded at $135.30. 1,828,404 shares were traded during trading, a decline of 79% from the average session volume of 8,574,626 shares. The stock had previously closed at $133.04.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Benchmark raised their price objective on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Barclays raised their price objective on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Citigroup raised their price objective on shares of PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Bank of America lifted their price target on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, PDD currently has an average rating of “Buy” and a consensus price target of $188.33.

PDD Stock Performance

The stock has a market cap of $184.70 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 0.23 and a beta of 0.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. The firm’s 50 day moving average is $142.81 and its 200 day moving average is $133.60.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $1.19. PDD had a net margin of 26.93% and a return on equity of 45.04%. The business had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $10.62 billion. Analysts anticipate that PDD Holdings Inc. will post 11.41 EPS for the current year.

Hedge Funds Weigh In On PDD

A number of large investors have recently bought and sold shares of PDD. Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the 1st quarter worth $29,000. Mather Group LLC. grew its stake in shares of PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after purchasing an additional 354 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PDD during the 4th quarter worth $59,000. EverSource Wealth Advisors LLC grew its stake in shares of PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares during the period. Finally, AJOVista LLC acquired a new position in shares of PDD during the 4th quarter worth $103,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

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.