PDD Holdings Inc. (NASDAQ:PDD) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of PDD Holdings Inc. (NASDAQ:PDD) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $146.85.

A number of equities research analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. decreased their price target on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Benchmark boosted their price objective on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Citigroup upped their price objective on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, The Goldman Sachs Group cut PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price for the company. in a research note on Monday, March 11th.

PDD Stock Down 1.9 %

Shares of PDD opened at $126.82 on Tuesday. The company has a market capitalization of $167.35 billion, a P/E ratio of 22.13, a PEG ratio of 0.33 and a beta of 0.67. PDD has a one year low of $59.67 and a one year high of $152.99. The business’s 50 day simple moving average is $121.58 and its 200-day simple moving average is $126.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.93.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The company had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. As a group, sell-side analysts predict that PDD will post 7.85 EPS for the current fiscal year.

Hedge Funds Weigh In On PDD

Institutional investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. boosted its stake in PDD by 2.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock worth $491,000 after acquiring an additional 66 shares during the last quarter. Johnson Investment Counsel Inc. boosted its position in shares of PDD by 2.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock worth $480,000 after purchasing an additional 78 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of PDD by 2.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after buying an additional 98 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of PDD by 31.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after buying an additional 101 shares in the last quarter. Finally, PDS Planning Inc raised its stake in PDD by 5.2% during the 4th quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock worth $341,000 after buying an additional 116 shares during the period. 29.07% of the stock is currently owned by institutional investors and hedge funds.

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.