Jefferies Financial Group Cuts PDD (NASDAQ:PDD) Price Target to $171.00

PDD (NASDAQ:PDD) had its price target trimmed by Jefferies Financial Group from $181.00 to $171.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also commented on PDD. Citigroup lowered PDD from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Daiwa America raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Barclays dropped their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Finally, Sanford C. Bernstein reduced their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, PDD presently has an average rating of “Buy” and a consensus price target of $173.40.

PDD Stock Down 3.9 %

Shares of NASDAQ PDD opened at $100.07 on Thursday. PDD has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market cap 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. The firm has a 50 day moving average price of $123.24 and a 200 day moving average price of $129.71.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $20.58. The company had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. PDD had a net margin of 29.05% and a return on equity of 49.53%. The firm’s revenue was up 85.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 EPS. Analysts expect that PDD will post 11.19 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PDD. TT International Asset Management LTD bought a new position in shares of PDD in the 3rd quarter valued at about $74,430,000. Geode Capital Management LLC increased its position in PDD by 12.3% during the third quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock worth $627,104,000 after buying an additional 513,248 shares during the last quarter. Sylebra Capital LLC raised its stake in PDD by 207.7% in the third quarter. Sylebra Capital LLC now owns 492,166 shares of the company’s stock valued at $66,349,000 after buying an additional 332,211 shares during the period. ABS Direct Equity Fund LLC lifted its position in shares of PDD by 24.2% in the third quarter. ABS Direct Equity Fund LLC now owns 60,100 shares of the company’s stock valued at $8,102,000 after buying an additional 11,694 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in shares of PDD during the 3rd quarter worth approximately $2,134,000. 29.07% of the stock is currently owned by institutional investors.

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.