PDD (NASDAQ:PDD) Stock Price Down 3%

PDD Holdings Inc. (NASDAQ:PDD)’s share price fell 3% during trading on Monday . The stock traded as low as $126.73 and last traded at $126.94. 2,586,487 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 8,408,838 shares. The stock had previously closed at $130.80.

Analyst Ratings Changes

Several research firms have commented on PDD. Sanford C. Bernstein upped their price objective on PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Citigroup increased their target price on PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Barclays increased their target price on PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Benchmark increased their target price on PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $188.33.

PDD Trading Down 2.3 %

The company has a 50 day moving average of $141.81 and a 200 day moving average of $133.02. 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 stock has a market capitalization of $175.77 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 0.23 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $1.19. PDD had a return on equity of 45.04% and a net margin of 26.93%. The business had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $10.62 billion. On average, research analysts predict that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new stake in PDD in the 1st quarter valued at about $29,000. Mather Group LLC. raised its holdings in PDD by 1,106.3% in the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after buying an additional 354 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in PDD in the 4th quarter valued at about $59,000. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 101 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in PDD in the 2nd quarter valued at about $60,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

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.