PDD Holdings Inc. (NASDAQ:PDD) Receives $188.33 Average PT from Analysts

PDD Holdings Inc. (NASDAQ:PDD) has been given an average recommendation of “Buy” by the nine analysts that are presently covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued a report on the stock in the last year is $188.33.

Several equities analysts have issued reports on PDD shares. Benchmark increased their price objective on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Sanford C. Bernstein boosted their price target on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Citigroup raised their target price on shares of PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. UBS Group upped their price target on PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Finally, Barclays lifted 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.

PDD Stock Performance

Shares of PDD opened at $126.19 on Thursday. PDD has a one year low of $75.44 and a one year high of $164.69. The stock has a market cap of $173.62 billion, a P/E ratio of 16.71, a P/E/G ratio of 0.22 and a beta of 0.63. 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 stock has a 50-day moving average of $139.49 and a two-hundred day moving average of $132.32.

PDD (NASDAQ:PDD) last announced its quarterly 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. The company had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $10.62 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. As a group, research analysts predict that PDD will post 11.41 EPS for the current year.

Institutional Trading of PDD

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of PDD in the 4th quarter valued at about $1,075,172,000. Assenagon Asset Management S.A. lifted its stake in PDD by 15,755.1% in the first quarter. Assenagon Asset Management S.A. now owns 5,087,255 shares of the company’s stock worth $591,393,000 after acquiring an additional 5,055,169 shares during the last quarter. Hhlr Advisors LTD. grew its holdings in PDD by 37.5% during the 4th 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 in the last quarter. Baillie Gifford & Co. increased its position in shares of PDD by 6.4% in the 4th quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock valued at $5,553,962,000 after purchasing an additional 2,292,068 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new stake in shares of PDD in the 4th quarter valued at $235,666,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

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.