Sanford C. Bernstein Raises PDD (NASDAQ:PDD) Price Target to $235.00

PDD (NASDAQ:PDDFree Report) had its price target lifted by Sanford C. Bernstein from $180.00 to $235.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also issued reports on PDD. Bank of America boosted their price objective on PDD from $191.00 to $206.00 and gave the company a buy rating in a research report on Thursday. Barclays upped their target price on shares of PDD from $164.00 to $178.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. 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 report on Thursday, March 21st. UBS Group boosted their target price on PDD from $248.00 to $272.00 and gave the company a buy rating in a research note on Wednesday. Finally, Jefferies Financial Group raised their price target on shares of PDD from $157.00 to $161.00 and gave the stock a buy rating in a research note on Thursday, March 21st. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of Buy and an average price target of $182.31.

View Our Latest Stock Report on PDD

PDD Trading Up 2.6 %

NASDAQ:PDD opened at $157.57 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.93 and a debt-to-equity ratio of 0.02. PDD has a 1-year low of $59.98 and a 1-year high of $164.69. The firm has a market capitalization of $216.80 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 0.40 and a beta of 0.67. The business’s 50-day moving average price is $128.33 and its two-hundred day moving average price is $131.49.

PDD (NASDAQ:PDDGet Free Report) last posted its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.81. PDD had a net margin of 26.93% and a return on equity of 45.04%. The company had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. On average, equities analysts expect that PDD will post 7.85 earnings per share for the current year.

Institutional Trading of PDD

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Advisors LLC grew its position in shares of PDD by 81.4% during the 1st quarter. Cetera Advisors LLC now owns 27,778 shares of the company’s stock worth $3,229,000 after purchasing an additional 12,463 shares in the last quarter. Cetera Investment Advisers acquired a new position in PDD in the 1st quarter valued at $3,987,000. Virtu Financial LLC bought a new stake in shares of PDD during the 1st quarter valued at $1,924,000. EMC Capital Management grew its holdings in shares of PDD by 116.7% during the 1st quarter. EMC Capital Management now owns 6,500 shares of the company’s stock worth $765,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Wahed Invest LLC lifted its position in PDD by 39.0% during the first quarter. Wahed Invest LLC now owns 7,501 shares of the company’s stock worth $872,000 after purchasing an additional 2,103 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

PDD Company Profile

(Get Free Report)

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.

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Analyst Recommendations for PDD (NASDAQ:PDD)

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