PDD Holdings Inc. (NASDAQ:PDD) Given Consensus Recommendation of “Buy” by Brokerages

by · The Markets Daily

PDD Holdings Inc. (NASDAQ:PDD – Get Free Report) has received an average recommendation of “Buy” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $182.40.

PDD has been the topic of several research analyst reports. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Bank of America dropped their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Barclays dropped their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Finally, Jefferies Financial Group lowered their price objective on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th.

Check Out Our Latest Research Report on PDD

Hedge Funds Weigh In On PDD

Several hedge funds and other institutional investors have recently made changes to their positions in PDD. Future Financial Wealth Managment LLC bought a new position in shares of PDD in the first quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new position in PDD during the second quarter worth $32,000. Richardson Financial Services Inc. boosted its position in PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the period. Strategic Financial Concepts LLC bought a new position in PDD during the second quarter worth $40,000. Finally, Mather Group LLC. boosted its position in PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after purchasing an additional 354 shares during the period. 29.07% of the stock is owned by institutional investors.

PDD Stock Performance

Shares of NASDAQ:PDD opened at $124.62 on Tuesday. The company has a market capitalization of $171.46 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 0.33 and a beta of 0.71. The firm’s 50 day simple moving average is $121.31 and its 200 day simple moving average is $130.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. PDD has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

PDD (NASDAQ:PDD – Get Free Report) last announced its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion for 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 period last year, the company posted $1.27 EPS. As a group, sell-side analysts forecast that PDD will post 11.05 earnings per share for the current year.

About PDD

(Get Free Report

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.

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