PDD Holdings Inc. (NASDAQ:PDD) Receives Consensus Rating of “Buy” from Brokerages

PDD Holdings Inc. (NASDAQ:PDD) has received a consensus rating of “Buy” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $177.78.

Several analysts recently issued reports on PDD shares. Nomura Securities upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Macquarie downgraded PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Sanford C. Bernstein reduced their price target on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Citigroup downgraded 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 report on Tuesday, August 27th. Finally, Jefferies Financial Group reduced their target price on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research report on Monday, August 26th.

PDD Stock Performance

NASDAQ PDD opened at $129.40 on Friday. The business’s 50-day simple moving average is $118.46 and its 200-day simple moving average is $128.35. The firm has a market capitalization of $178.04 billion, a P/E ratio of 17.14, a P/E/G ratio of 0.25 and a beta of 0.69. PDD has a 1-year low of $88.01 and a 1-year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11.

PDD (NASDAQ:PDD) last released 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. PDD had a net margin of 28.92% and a return on equity of 48.14%. The company had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the previous year, the firm earned $1.27 earnings per share. PDD’s revenue for the quarter was up 85.7% on a year-over-year basis. Equities analysts predict that PDD will post 11.05 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new stake in shares of PDD during the 4th quarter valued at approximately $272,000. Avantax Advisory Services Inc. bought a new stake in shares of PDD during the 4th quarter valued at about $249,000. Corient Private Wealth LLC raised its stake in PDD by 19.9% during the fourth quarter. Corient Private Wealth LLC now owns 8,148 shares of the company’s stock worth $1,192,000 after acquiring an additional 1,350 shares during the period. Dai ichi Life Insurance Company Ltd lifted its holdings in PDD by 6.4% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 13,868 shares of the company’s stock worth $2,029,000 after acquiring an additional 836 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after acquiring an additional 101 shares during the period. 29.07% of the stock is owned by institutional investors and hedge funds.

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.