PDD Holdings Inc. (NASDAQ:PDD) Receives $146.85 Consensus Target Price from Brokerages

Shares of PDD Holdings Inc. (NASDAQ:PDD) have earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $146.85.

PDD has been the subject of a number of research reports. Jefferies Financial Group increased their price target on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. dropped their price target on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Benchmark increased their price target on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. The Goldman Sachs Group cut PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target for the company. in a research note on Monday, March 11th. Finally, Citigroup increased their price target on PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, March 21st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. LifePro Asset Management raised its position in PDD by 3.9% during the 1st quarter. LifePro Asset Management now owns 5,691 shares of the company’s stock worth $662,000 after purchasing an additional 216 shares during the last quarter. Checchi Capital Advisers LLC raised its position in PDD by 2.6% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock worth $444,000 after purchasing an additional 98 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in PDD by 6.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 349,941 shares of the company’s stock worth $40,681,000 after acquiring an additional 21,169 shares during the period. Simplicity Wealth LLC acquired a new stake in PDD during the 1st quarter worth about $578,000. Finally, Solstein Capital LLC grew its holdings in PDD by 3.7% during the 1st quarter. Solstein Capital LLC now owns 13,670 shares of the company’s stock worth $1,589,000 after acquiring an additional 490 shares during the period. 29.07% of the stock is owned by institutional investors.

PDD Stock Down 1.4 %

NASDAQ PDD opened at $125.79 on Tuesday. The business has a fifty day moving average price of $121.86 and a two-hundred day moving average price of $126.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83. PDD has a fifty-two week low of $59.67 and a fifty-two week high of $152.99. The stock has a market capitalization of $165.99 billion, a PE ratio of 21.95, a PEG ratio of 0.33 and a beta of 0.67.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The firm had revenue of $12.52 billion during the quarter, compared to analysts’ expectations of $11.80 billion. Equities analysts expect that PDD will post 7.85 earnings per share for the current fiscal year.

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.