PDD (NASDAQ:PDD) Trading Up 0.5%

PDD Holdings Inc. (NASDAQ:PDD)’s share price shot up 0.5% on Wednesday . The company traded as high as $134.68 and last traded at $133.72. 1,297,909 shares were traded during mid-day trading, a decline of 85% from the average session volume of 8,500,271 shares. The stock had previously closed at $133.08.

Analysts Set New Price Targets

Several research firms have issued reports on PDD. UBS Group upped their price objective on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Sanford C. Bernstein upped their price target on PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Bank of America lifted their price objective on PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Finally, Benchmark lifted their price target on shares of PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PDD has an average rating of “Buy” and a consensus price target of $188.33.

PDD Stock Down 0.9 %

The firm has a market cap of $181.44 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 0.23 and a beta of 0.63. The firm’s 50 day moving average is $142.58 and its two-hundred day moving average is $133.41. 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 (NASDAQ:PDD) last posted its earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.44 by $1.19. PDD had a net margin of 26.93% and a return on equity of 45.04%. The company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $10.62 billion. As a group, research analysts anticipate that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PDD. Future Financial Wealth Managment LLC bought a new position in shares of PDD during the 1st quarter valued at about $29,000. Mather Group LLC. raised its holdings in PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after buying an additional 354 shares during the period. Gordian Capital Singapore Pte Ltd bought a new position in PDD in the fourth quarter valued at approximately $59,000. EverSource Wealth Advisors LLC boosted its holdings in shares of PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after buying an additional 101 shares during the period. Finally, AJOVista LLC bought a new stake in shares of PDD during the fourth quarter worth $103,000. 29.07% of the stock is currently owned by institutional investors.

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.