PDD (NASDAQ:PDD) Stock Price Up 2.6%

PDD Holdings Inc. (NASDAQ:PDD)’s stock price was up 2.6% on Monday . The company traded as high as $142.32 and last traded at $141.60. Approximately 2,877,912 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 8,294,203 shares. The stock had previously closed at $138.04.

Analysts Set New Price Targets

PDD has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $184.00 in a report on Friday, May 24th. Barclays boosted their target price on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Bank of America upped their target price on PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Benchmark raised 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, UBS Group increased their price objective on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $188.33.

PDD Trading Up 3.2 %

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 firm has a fifty day moving average of $137.65 and a 200 day moving average of $132.01. The firm has a market capitalization of $196.06 billion, a PE ratio of 18.75, a P/E/G ratio of 0.23 and a beta of 0.63.

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

Hedge Funds Weigh In On PDD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in PDD by 64.4% in the 4th quarter. Raymond James & Associates now owns 14,362 shares of the company’s stock valued at $2,101,000 after buying an additional 5,626 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of PDD in the fourth quarter valued at approximately $260,000. Stratos Wealth Partners LTD. acquired a new position in PDD in the fourth quarter valued at approximately $256,000. International Assets Investment Management LLC acquired a new stake in PDD in the fourth quarter worth $13,379,000. Finally, Sequoia Financial Advisors LLC raised its holdings in PDD by 10.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,195 shares of the company’s stock worth $614,000 after buying an additional 389 shares during the period. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

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.