PDD (NASDAQ:PDD) Lifted to Outperform at Macquarie

Macquarie upgraded shares of PDD (NASDAQ:PDD) from a neutral rating to an outperform rating in a research note issued to investors on Monday morning, Marketbeat reports. They currently have $224.00 price target on the stock, up from their prior price target of $126.00.

Other equities research analysts have also recently issued reports about the stock. Citigroup cut shares of PDD from a buy rating to a neutral rating and lowered their price objective for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Bank of America dropped their price objective on shares of PDD from $206.00 to $170.00 and set a buy rating for the company in a research note on Tuesday, August 27th. Barclays reduced their target price on PDD from $224.00 to $158.00 and set an overweight rating on the stock in a research note on Tuesday, August 27th. Jefferies Financial Group dropped their price target on PDD from $193.00 to $151.00 and set a buy rating for the company in a research report on Monday, August 26th. Finally, Daiwa America raised PDD to a strong-buy rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $182.40.

PDD Trading Up 0.1 %

Shares of PDD stock opened at $141.58 on Monday. The company has a 50-day moving average of $121.25 and a two-hundred day moving average of $129.82. PDD has a 12-month low of $88.01 and a 12-month high of $164.69. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. The stock has a market cap of $194.80 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 0.37 and a beta of 0.71.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. PDD’s revenue was up 85.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.27 earnings per share. On average, research analysts anticipate that PDD will post 11.05 EPS for the current fiscal year.

Hedge Funds Weigh In On PDD

A number of large investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new position in PDD during the first quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of PDD during the 2nd quarter valued at $32,000. Richardson Financial Services Inc. boosted its position in PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the period. Strategic Financial Concepts LLC acquired a new stake in PDD in the 2nd quarter valued at $40,000. Finally, Mather Group LLC. raised its position in PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares during the period. Hedge funds and other institutional investors own 29.07% of the company’s stock.

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.