PDD (NASDAQ:PDD) Cut to Neutral at Macquarie

Macquarie cut shares of PDD (NASDAQ:PDD) from an outperform rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports.

A number of other equities analysts also recently issued reports on PDD. Barclays raised their price objective on PDD from $178.00 to $224.00 and gave the stock an overweight rating in a research report on Friday, May 24th. Bank of America lifted their target price on PDD from $191.00 to $206.00 and gave the stock a buy rating in a report on Thursday, May 23rd. Sanford C. Bernstein lifted their target price on PDD from $180.00 to $235.00 and gave the stock an outperform rating in a report on Thursday, May 23rd. The Goldman Sachs Group raised PDD from a neutral rating to a buy rating and raised their price objective for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Finally, Jefferies Financial Group reduced their price objective on PDD from $193.00 to $151.00 and set a buy rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $167.27.

PDD Price Performance

Shares of PDD opened at $93.42 on Monday. PDD has a 1 year low of $88.01 and a 1 year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market capitalization of $128.53 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.26 and a beta of 0.63. The business has a 50-day moving average of $134.24 and a 200-day moving average of $132.39.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 45.04% and a net margin of 26.93%. The company had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period last year, the company earned $1.27 earnings per share. The firm’s revenue was up 85.7% compared to the same quarter last year. As a group, equities research analysts anticipate that PDD will post 11.41 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC boosted its position in shares of PDD by 149.0% during the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after buying an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in PDD by 37.5% during the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after acquiring an additional 2,760,100 shares during the period. Vanguard Group Inc. lifted its holdings in PDD by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after acquiring an additional 62,312 shares during the period. Truist Financial Corp lifted its holdings in PDD by 12.8% during the fourth quarter. Truist Financial Corp now owns 3,143 shares of the company’s stock worth $460,000 after acquiring an additional 357 shares during the period. Finally, Connectus Wealth LLC lifted its holdings in PDD by 9.4% during the fourth quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock worth $1,003,000 after acquiring an additional 590 shares during the period. 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.