PDD (NASDAQ:PDD) Stock Price Down 2%

PDD Holdings Inc. (NASDAQ:PDD)’s stock price dropped 2% during mid-day trading on Friday . The company traded as low as $124.96 and last traded at $125.22. Approximately 1,580,699 shares were traded during trading, a decline of 81% from the average daily volume of 8,358,343 shares. The stock had previously closed at $127.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PDD shares. Benchmark lifted their target price on PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Barclays lifted their price target 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. Sanford C. Bernstein boosted their target price on PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. UBS Group upped their price objective on PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Bank of America boosted their target price 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. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, PDD has an average rating of “Buy” and an average target price of $188.33.

PDD Stock Down 0.4 %

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 cap of $175.16 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 0.22 and a beta of 0.63. The company’s 50-day moving average price is $140.10 and its 200 day moving average price is $132.62.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $1.19. The business 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%. As a group, analysts forecast that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Naviter Wealth LLC raised its position in PDD by 61.3% in the second quarter. Naviter Wealth LLC now owns 15,506 shares of the company’s stock worth $2,062,000 after acquiring an additional 5,890 shares in the last quarter. Comgest Global Investors S.A.S. acquired a new stake in shares of PDD during the 2nd quarter valued at about $1,841,000. Fiera Capital Corp lifted its stake in shares of PDD by 42.2% in the 2nd quarter. Fiera Capital Corp now owns 5,209 shares of the company’s stock valued at $693,000 after purchasing an additional 1,547 shares during the period. RWC Asset Advisors US LLC lifted its stake in PDD by 19.4% in the 2nd quarter. RWC Asset Advisors US LLC now owns 863,584 shares of the company’s stock valued at $114,813,000 after acquiring an additional 140,387 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in PDD by 2.7% during the 2nd quarter. CIBC Asset Management Inc now owns 120,141 shares of the company’s stock valued at $15,973,000 after purchasing an additional 3,197 shares during the last quarter. 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.