PDD (NASDAQ:PDD) Stock Price Up 2.8%

PDD Holdings Inc. (NASDAQ:PDD)’s stock price shot up 2.8% during trading on Friday . The stock traded as high as $145.06 and last traded at $143.13. 4,318,157 shares were traded during trading, a decline of 50% from the average session volume of 8,655,870 shares. The stock had previously closed at $139.24.

Analysts Set New Price Targets

Several analysts recently issued reports on PDD shares. Benchmark upped their price objective on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. cut their price target on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $184.00 in a research note on Friday, May 24th. Barclays raised their target price on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Finally, Bank of America boosted their price target on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $188.33.

PDD Trading Up 2.3 %

The stock has a market cap of $195.99 billion, a PE ratio of 18.96, a PEG ratio of 0.24 and a beta of 0.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. The business has a 50-day moving average of $143.12 and a 200 day moving average of $134.20.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, May 22nd. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $1.44 by $1.19. The firm had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $10.62 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. Equities research analysts predict that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

Institutional Trading of PDD

Large investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in PDD during the 1st quarter valued at approximately $29,000. Mather Group LLC. raised its holdings in PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in PDD during the 4th quarter valued at $59,000. EverSource Wealth Advisors LLC grew its holdings in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after acquiring an additional 101 shares in the last quarter. Finally, AJOVista LLC bought a new stake in shares of PDD in the 4th quarter worth about $103,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

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.