PDD (NASDAQ:PDD) Trading Up 0.8%

PDD Holdings Inc. (NASDAQ:PDD)’s stock price shot up 0.8% during mid-day trading on Friday . The stock traded as high as $94.88 and last traded at $93.44. 2,922,679 shares were traded during trading, a decline of 70% from the average session volume of 9,663,237 shares. The stock had previously closed at $92.68.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PDD shares. Nomura Securities raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Macquarie cut PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Barclays dropped their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Bank of America reduced their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group lowered their price target on shares of PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, PDD has a consensus rating of “Buy” and a consensus target price of $177.78.

PDD Stock Up 1.2 %

The business’s 50-day moving average is $128.83 and its two-hundred day moving average is $130.82. The firm has a market capitalization of $129.04 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 0.23 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11.

PDD (NASDAQ:PDD) last issued its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. On average, equities analysts anticipate that PDD Holdings Inc. will post 11.21 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of PDD during the fourth quarter worth $1,075,172,000. Assenagon Asset Management S.A. boosted its stake in PDD by 15,755.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 5,087,255 shares of the company’s stock worth $591,393,000 after purchasing an additional 5,055,169 shares during the period. Hhlr Advisors LTD. increased 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 purchasing an additional 2,760,100 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of PDD by 107.8% in the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock valued at $487,984,000 after purchasing an additional 1,904,155 shares during the period. Finally, Tairen Capital Ltd lifted its holdings in shares of PDD by 49.8% in the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock valued at $715,055,000 after purchasing an additional 1,788,076 shares in the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

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.