Citigroup Increases PDD (NASDAQ:PDD) Price Target to $198.00

PDD (NASDAQ:PDD) had its price target boosted by Citigroup from $185.00 to $198.00 in a research report released on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Benchmark increased their price target on PDD from $220.00 to $230.00 and gave the company a buy rating in a research report on Thursday. The Goldman Sachs Group cut shares of PDD from a buy rating to a neutral rating and set a $136.00 target price for the company. in a report on Monday, March 11th. Sanford C. Bernstein boosted their price target on shares of PDD from $180.00 to $235.00 and gave the company an outperform rating in a report on Thursday. Jefferies Financial Group upped their price target on shares of PDD from $157.00 to $161.00 and gave the company a buy rating in a research report on Thursday, March 21st. Finally, UBS Group lifted their price objective on shares of PDD from $248.00 to $272.00 and gave the stock a buy rating in a research report on Wednesday, May 22nd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $182.31.

PDD Stock Up 2.6 %

PDD stock opened at $157.57 on Thursday. The firm has a market cap of $216.80 billion, a PE ratio of 20.87, a P/E/G ratio of 0.41 and a beta of 0.67. PDD has a 12 month low of $59.98 and a 12 month 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 1.93. The firm has a 50 day simple moving average of $128.33 and a 200 day simple moving average of $131.64.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.81. The company had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. Equities research analysts forecast that PDD will post 7.85 earnings per share for the current fiscal year.

Institutional Trading of PDD

Hedge funds and other institutional investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD during the 1st quarter worth about $29,000. SRS Capital Advisors Inc. grew its position in PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after acquiring an additional 209 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PDD during the 4th quarter worth $59,000. EverSource Wealth Advisors LLC increased its stake in shares of PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares during the last quarter. Finally, Turim 21 Investimentos Ltda. bought a new position in shares of PDD during the 3rd quarter valued at $55,000. 29.07% of the stock is currently owned by hedge funds and other 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.