PDD (NASDAQ:PDD) Stock Rating Lowered by Dbs Bank

Dbs Bank cut shares of PDD (NASDAQ:PDD) from a strong-buy rating to a hold rating in a report issued on Friday morning,Zacks.com reports.

Several other equities analysts have also recently weighed in on PDD. Benchmark lowered their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Barclays cut their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Bank of America decreased their price target 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. Finally, Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and cut their price objective for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Price Performance

NASDAQ PDD opened at $100.69 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $138.54 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 0.24 and a beta of 0.71. The stock has a 50-day moving average of $123.31 and a 200 day moving average of $129.39. PDD has a one year low of $88.01 and a one year high of $164.69.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating the consensus estimate of $2.66 by $20.58. PDD had a net margin of 29.05% and a return on equity of 46.08%. The firm had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same period in the previous year, the company earned $1.27 earnings per share. The firm’s quarterly revenue was up 85.7% on a year-over-year basis. On average, sell-side analysts forecast that PDD will post 11.19 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of PDD by 1,374.3% in the third 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 acquiring an additional 12,253,589 shares in the last quarter. H&H International Investment LLC raised its stake in PDD by 3,693.8% during the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after purchasing an additional 3,804,600 shares during the period. Acadian Asset Management LLC boosted its stake in PDD by 107.8% in the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock worth $487,984,000 after purchasing an additional 1,904,155 shares during the period. Tairen Capital Ltd grew its holdings in PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock valued at $715,055,000 after buying an additional 1,788,076 shares in the last quarter. Finally, FMR LLC raised its position in shares of PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after buying an additional 1,654,764 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

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.