Jefferies Financial Group Has Lowered Expectations for PDD (NASDAQ:PDD) Stock Price

PDD (NASDAQ:PDD) had its price target decreased by investment analysts at Jefferies Financial Group from $181.00 to $171.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 70.88% from the company’s previous close.

Several other analysts have also recently issued reports on PDD. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Barclays dropped their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Benchmark decreased their target price on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and dropped their price target for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, PDD has a consensus rating of “Buy” and an average price target of $173.40.

PDD Stock Performance

PDD stock opened at $100.07 on Thursday. The business has a 50 day moving average of $123.24 and a 200-day moving average of $129.77. The firm has a market cap of $137.68 billion, a PE ratio of 10.78, a P/E/G ratio of 0.28 and a beta of 0.71. PDD has a 12-month low of $88.01 and a 12-month high of $164.69. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The company’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 year.

Institutional Trading of PDD

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its stake in PDD by 2.8% during the third quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock worth $4,868,859,000 after acquiring an additional 988,042 shares in the last quarter. FMR LLC raised its holdings in PDD by 8.6% in the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after acquiring an additional 1,654,764 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in PDD by 1,374.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after purchasing an additional 12,253,589 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of PDD by 16.2% in the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock worth $786,237,000 after purchasing an additional 826,525 shares during the last quarter. Finally, Tairen Capital Ltd lifted its holdings in shares of PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock valued at $715,055,000 after purchasing an additional 1,788,076 shares in the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

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.