PDD (NASDAQ:PDD) Cut to Hold at Dbs Bank

Dbs Bank lowered shares of PDD (NASDAQ:PDD) from a strong-buy rating to a hold rating in a research report sent to investors on Friday,Zacks.com reports.

Several other brokerages have also recently commented on PDD. Sanford C. Bernstein dropped their target price on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Citigroup lowered PDD from a “buy” rating to a “neutral” rating and cut their price objective for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. Bank of America dropped their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Finally, Jefferies Financial Group dropped their price target on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Trading Up 0.6 %

NASDAQ:PDD opened at $100.69 on Friday. PDD has a 1 year low of $88.01 and a 1 year high of $164.69. The business has a fifty day moving average of $123.31 and a 200-day moving average of $129.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $138.54 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 0.24 and a beta of 0.71.

PDD (NASDAQ:PDD) last announced its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The firm 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 46.08%. PDD’s revenue was up 85.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 EPS. Equities analysts predict that PDD will post 11.19 earnings per share for the current year.

Institutional Investors Weigh In On PDD

Several hedge funds have recently bought and sold shares of PDD. Prospera Private Wealth LLC acquired a new stake in shares of PDD during the 3rd quarter valued at $27,000. Venturi Wealth Management LLC acquired a new stake in PDD during the third quarter valued at $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in PDD during the second quarter valued at $32,000. Richardson Financial Services Inc. grew its stake in PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after purchasing an additional 233 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in PDD in the 3rd quarter worth about $34,000. 29.07% of the stock is owned by hedge funds and other 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.