PDD (NASDAQ:PDD) Trading 1.4% Higher

Shares of PDD Holdings Inc. (NASDAQ:PDD) traded up 1.4% during trading on Thursday . The stock traded as high as $131.40 and last traded at $130.69. 1,528,035 shares were traded during trading, a decline of 82% from the average session volume of 8,384,447 shares. The stock had previously closed at $128.89.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup raised their price objective on shares of PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Sanford C. Bernstein lifted their price target on shares of PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Barclays lifted their price target on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Bank of America lifted their price target on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Benchmark lifted their price target on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, PDD has an average rating of “Buy” and an average target price of $188.33.

PDD Stock Down 0.3 %

The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $175.30 billion, a PE ratio of 16.88, a P/E/G ratio of 0.22 and a beta of 0.63. The stock’s fifty day simple moving average is $139.49 and its 200-day simple moving average is $132.47.

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

Hedge Funds Weigh In On PDD

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Triasima Portfolio Management inc. purchased a new stake in PDD during the fourth quarter valued at about $1,813,000. Los Angeles Capital Management LLC lifted its holdings in PDD by 149.0% during the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after purchasing an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in PDD by 37.5% during the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after purchasing an additional 2,760,100 shares during the last quarter. Vanguard Group Inc. lifted its holdings in PDD by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after purchasing an additional 62,312 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in PDD during the fourth quarter valued at about $13,379,000. 29.07% of the stock is owned by hedge funds and other 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.