PDD (NASDAQ:PDD) Shares Up 1.2%

Shares of PDD Holdings Inc. (NASDAQ:PDD) rose 1.2% during mid-day trading on Tuesday . The stock traded as high as $99.40 and last traded at $98.34. Approximately 2,602,379 shares were traded during trading, a decline of 73% from the average daily volume of 9,692,612 shares. The stock had previously closed at $97.20.

Wall Street Analyst Weigh In

PDD has been the topic of a number of recent research reports. Benchmark cut their price target on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Bank of America reduced their price target on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Daiwa America raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Citigroup lowered PDD from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Finally, Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, PDD currently has an average rating of “Buy” and a consensus price target of $177.78.

PDD Stock Up 1.3 %

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 firm’s 50 day moving average price is $123.19 and its two-hundred day moving average price is $129.17. The company has a market cap of $135.54 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69.

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

Hedge Funds Weigh In On PDD

Institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC raised its holdings in PDD by 149.0% during the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after buying an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. boosted its stake in PDD by 37.5% during the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after purchasing an additional 2,760,100 shares during the last quarter. Vanguard Group Inc. boosted its stake in PDD by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after purchasing an additional 62,312 shares during the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of PDD by 63.7% in the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after purchasing an additional 89,853 shares during the last quarter. Finally, Connectus Wealth LLC raised its stake in shares of PDD by 9.4% in the fourth quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock worth $1,003,000 after purchasing an additional 590 shares during the last quarter. 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.