PDD (NASDAQ:PDD) Trading Down 3.6%

Shares of PDD Holdings Inc. (NASDAQ:PDD) fell 3.6% during mid-day trading on Monday . The stock traded as low as $134.40 and last traded at $137.24. 3,408,759 shares were traded during trading, a decline of 61% from the average session volume of 8,655,154 shares. The stock had previously closed at $142.42.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PDD. JPMorgan Chase & Co. lowered their price objective on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Jefferies Financial Group raised their target price on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Barclays raised their target price on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Bank of America increased their price target on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, PDD has an average rating of “Buy” and a consensus target price of $188.33.

PDD Trading Down 3.0 %

The company has a fifty day simple moving average of $143.11 and a two-hundred day simple moving average of $133.91. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The company has a market cap of $181.37 billion, a PE ratio of 17.49, a P/E/G ratio of 0.24 and a beta of 0.63.

PDD (NASDAQ:PDD) last issued its earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $1.19. The firm had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $10.62 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. Analysts anticipate that PDD Holdings Inc. will post 11.41 EPS for the current year.

Hedge Funds Weigh In On PDD

Institutional investors and hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the first quarter valued at about $29,000. Mather Group LLC. lifted its position in shares of PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of PDD during the fourth quarter valued at about $59,000. EverSource Wealth Advisors LLC lifted its position in shares of PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after purchasing an additional 101 shares in the last quarter. Finally, AJOVista LLC bought a new position in shares of PDD during the fourth quarter valued at 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.