PDD (NASDAQ:PDD) Downgraded to “Hold” Rating by Dbs Bank

PDD (NASDAQ:PDD) was downgraded by analysts at Dbs Bank from a “strong-buy” rating to a “hold” rating in a research note issued on Friday,Zacks.com reports.

PDD has been the subject of a number of other research reports. Barclays dropped their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Benchmark lowered their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday. Finally, Sanford C. Bernstein lowered their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Price Performance

Shares of NASDAQ:PDD opened at $100.69 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a fifty day moving average price of $123.31 and a 200 day moving average price of $129.39. PDD has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm has a market cap of $138.54 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 0.24 and a beta of 0.71.

PDD (NASDAQ:PDD) last issued its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 29.05% and a return on equity of 46.08%. The firm had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. PDD’s revenue for the quarter was up 85.7% on a year-over-year basis. As a group, sell-side analysts expect that PDD will post 11.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PDD

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in PDD in the 3rd quarter worth about $27,000. Venturi Wealth Management LLC purchased a new position in PDD in the 3rd quarter worth about $29,000. Ashton Thomas Private Wealth LLC purchased a new position in PDD in the 2nd quarter worth about $32,000. Richardson Financial Services Inc. increased its stake in PDD by 3,883.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in PDD in the 3rd quarter worth about $34,000. 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.