PDD (NASDAQ:PDD) Posts Quarterly Earnings Results, Beats Estimates By $17.59 EPS

PDD (NASDAQ:PDD) released its quarterly earnings data on Thursday. The company reported $20.15 EPS for the quarter, topping the consensus estimate of $2.56 by $17.59, Briefing.com reports. PDD had a net margin of 29.05% and a return on equity of 46.08%. The business had revenue of $110.61 billion for the quarter, compared to analyst estimates of $115.77 billion. During the same period in the previous year, the firm earned $17.32 EPS. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year.

PDD Price Performance

Shares of PDD opened at $130.92 on Friday. The firm has a market capitalization of $180.13 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The stock’s fifty day moving average is $115.12 and its 200-day moving average is $112.92. PDD has a one year low of $88.01 and a one year high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Benchmark lowered their price objective on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Nomura restated a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday. Jefferies Financial Group dropped their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.09.

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.