PDD Holdings Inc. (NASDAQ:PDD) Receives $146.85 Consensus Price Target from Brokerages

PDD Holdings Inc. (NASDAQ:PDD) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $157.23.

A number of equities research analysts have recently commented on the stock. UBS Group increased their price target on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a report on Wednesday. Barclays increased their target price on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Citigroup boosted their price objective on PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. reduced their price objective on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Finally, Jefferies Financial Group raised their price target on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Triasima Portfolio Management inc. acquired a new position in shares of PDD during the fourth quarter valued at $1,813,000. Vanguard Group Inc. lifted its position in PDD by 38.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after purchasing an additional 6,637,418 shares during the last quarter. International Assets Investment Management LLC acquired a new position in PDD during the 4th quarter valued at about $13,379,000. Truist Financial Corp grew its position in PDD by 12.8% in the 4th quarter. Truist Financial Corp now owns 3,143 shares of the company’s stock worth $460,000 after purchasing an additional 357 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in PDD by 7.2% in the 4th quarter. Nordea Investment Management AB now owns 297,090 shares of the company’s stock worth $43,334,000 after buying an additional 20,045 shares in the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

NASDAQ PDD opened at $147.09 on Friday. The firm has a market cap of $202.38 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 0.38 and a beta of 0.67. The company’s 50 day moving average is $127.04 and its 200-day moving average is $130.83. PDD has a 12-month low of $59.98 and a 12-month high of $156.50. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.03.

PDD (NASDAQ:PDD) last issued its earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The company had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. Sell-side analysts predict that PDD will post 7.85 earnings per share for the current year.

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.