PDD (NASDAQ:PDD) Stock Rating Lowered by JPMorgan Chase & Co.

PDD (NASDAQ:PDD) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Friday, Marketbeat Ratings reports. They presently have a $105.00 price objective on the stock, down from their previous price objective of $170.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 4.93% from the stock’s previous close.

Several other equities research analysts also recently commented on PDD. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Barclays dropped their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Sanford C. Bernstein decreased their target price on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Benchmark dropped their price target on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $173.40.

PDD Stock Down 3.9 %

NASDAQ:PDD opened at $100.07 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD has a 12-month low of $88.01 and a 12-month high of $164.69. The stock’s fifty day simple moving average is $123.24 and its 200-day simple moving average is $129.71. The firm has a market capitalization of $137.68 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.25 and a beta of 0.71.

PDD (NASDAQ:PDD) last issued its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. The firm had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a return on equity of 49.53% and a net margin of 29.05%. The company’s revenue was up 85.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 earnings per share. Equities research analysts expect that PDD will post 11.19 earnings per share for the current year.

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently made changes to their positions in PDD. Prime Capital Investment Advisors LLC increased its stake in PDD by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock valued at $244,000 after buying an additional 89 shares during the last quarter. Ballentine Partners LLC increased its position in shares of PDD by 4.6% in the second quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock valued at $359,000 after acquiring an additional 120 shares during the last quarter. Parallel Advisors LLC raised its holdings in PDD by 5.3% during the second quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after acquiring an additional 122 shares in the last quarter. Legacy Capital Group California Inc. boosted its position in PDD by 6.8% during the second quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock valued at $277,000 after purchasing an additional 133 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in PDD by 6.8% in the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $354,000 after purchasing an additional 166 shares in the last quarter. 29.07% of the stock is currently 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.