Brokerages Set PDD Holdings Inc. (NASDAQ:PDD) PT at $146.85

Shares of PDD Holdings Inc. (NASDAQ:PDD) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $146.85.

A number of brokerages have commented on PDD. The Goldman Sachs Group lowered PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective on the stock. in a research report on Monday, March 11th. Benchmark increased their price objective on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Citigroup lifted their price objective on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Barclays lifted their price objective on PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. decreased their price objective on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st.

PDD Stock Down 1.4 %

Shares of PDD opened at $125.79 on Tuesday. The firm has a market capitalization of $165.99 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 0.33 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 1.93. The business’s fifty day moving average price is $121.86 and its two-hundred day moving average price is $126.40. PDD has a 52 week low of $59.67 and a 52 week high of $152.99.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The firm had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. On average, analysts predict that PDD will post 7.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. LifePro Asset Management grew its stake in PDD by 3.9% in the first quarter. LifePro Asset Management now owns 5,691 shares of the company’s stock valued at $662,000 after acquiring an additional 216 shares during the period. Checchi Capital Advisers LLC grew its stake in PDD by 2.6% in the first quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after acquiring an additional 98 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in PDD by 6.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 349,941 shares of the company’s stock valued at $40,681,000 after acquiring an additional 21,169 shares during the period. Simplicity Wealth LLC bought a new stake in shares of PDD in the first quarter valued at about $578,000. Finally, Solstein Capital LLC lifted its holdings in shares of PDD by 3.7% in the first quarter. Solstein Capital LLC now owns 13,670 shares of the company’s stock valued at $1,589,000 after purchasing an additional 490 shares in the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

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.