PDD Holdings Inc. (NASDAQ:PDD) Receives Consensus Recommendation of “Buy” from Analysts

PDD Holdings Inc. (NASDAQ:PDD) has received a consensus rating of “Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $182.40.

Several brokerages recently weighed in on PDD. Bank of America cut their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group reduced their price objective on shares of PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Nomura Securities upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Sanford C. Bernstein decreased their price target on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th.

PDD Trading Up 1.5 %

NASDAQ PDD opened at $114.00 on Friday. The company has a market capitalization of $156.85 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.27 and a beta of 0.71. PDD has a 1-year low of $88.01 and a 1-year high of $164.69. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. The firm’s fifty day simple moving average is $121.17 and its 200-day simple moving average is $130.62.

PDD (NASDAQ:PDD) last issued its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping the consensus estimate of $2.66 by $20.58. The company had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The business’s revenue was up 85.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 EPS. As a group, sell-side analysts anticipate that PDD will post 11.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PDD. Prospera Private Wealth LLC acquired a new stake in shares of PDD in the third quarter worth $27,000. Venturi Wealth Management LLC acquired a new position in PDD during the 3rd quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD in the 2nd quarter valued at $32,000. Richardson Financial Services Inc. grew its position 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 purchasing an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of PDD during the 3rd quarter worth about $34,000. 29.07% of the stock is owned by institutional investors.

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.