PDD (NASDAQ:PDD) Shares Up 2.8%

PDD Holdings Inc. (NASDAQ:PDD)’s share price was up 2.8% during mid-day trading on Friday . The stock traded as high as $145.06 and last traded at $143.13. Approximately 4,318,157 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 8,655,870 shares. The stock had previously closed at $139.24.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PDD shares. Sanford C. Bernstein raised their price objective on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Citigroup raised their target price on PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Benchmark boosted their price target on PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Jefferies Financial Group increased their price objective on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, PDD has a consensus rating of “Buy” and a consensus target price of $188.33.

PDD Stock Performance

The firm has a fifty day simple moving average of $143.12 and a 200-day simple moving average of $134.20. The stock has a market cap of $195.99 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 0.24 and a beta of 0.63. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.44 by $1.19. PDD had a net margin of 26.93% and a return on equity of 45.04%. The company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $10.62 billion. Analysts forecast that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

Institutional Investors Weigh In On PDD

Institutional investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new position in PDD during the 1st quarter worth approximately $29,000. Mather Group LLC. lifted its position in shares of PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after purchasing an additional 354 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in PDD during the fourth quarter worth $59,000. EverSource Wealth Advisors LLC grew its position in PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after purchasing an additional 101 shares in the last quarter. Finally, AJOVista LLC acquired a new stake in PDD in the 4th quarter valued at $103,000. 29.07% of the stock is owned by institutional investors.

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.