PDD (NASDAQ:PDD) Releases Earnings Results, Beats Expectations By $20.58 EPS

PDD (NASDAQ:PDD) released its earnings results on Monday. The company reported $23.24 EPS for the quarter, beating the consensus estimate of $2.66 by $20.58, Briefing.com reports. The company had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. The business’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same period last year, the firm earned $1.27 EPS.

PDD Price Performance

PDD stock traded down $3.09 during trading hours on Tuesday, reaching $96.91. 18,759,863 shares of the stock were exchanged, compared to its average volume of 8,951,770. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. PDD has a twelve month low of $79.00 and a twelve month high of $164.69. The company has a market cap of $133.34 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 0.26 and a beta of 0.63. The stock has a 50 day moving average of $136.31 and a two-hundred day moving average of $132.92.

Analysts Set New Price Targets

A number of analysts have recently commented on PDD shares. Citigroup cut PDD from a “buy” rating to a “neutral” rating and lowered their price target for the company from $194.00 to $120.00 in a research note on Tuesday. Jefferies Financial Group lowered their price objective on shares of PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research report on Monday. Macquarie lowered PDD from an “outperform” rating to a “neutral” rating in a report on Monday. Barclays lowered their price target on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Benchmark cut their price objective on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.33.

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.