Dbs Bank Downgrades PDD (NASDAQ:PDD) to Hold

PDD (NASDAQ:PDD) was downgraded by research analysts at Dbs Bank from a “strong-buy” rating to a “hold” rating in a research report issued on Friday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on PDD. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Benchmark dropped their price objective on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday. Jefferies Financial Group cut their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $105.00 in a research report on Friday. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Trading Up 0.6 %

Shares of PDD opened at $100.69 on Friday. The stock’s fifty day simple moving average is $123.31 and its 200-day simple moving average is $129.39. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $138.54 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.24 and a beta of 0.71. PDD has a 12-month low of $88.01 and a 12-month high of $164.69.

PDD (NASDAQ:PDD) last released its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 29.05% and a return on equity of 46.08%. The company had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the prior year, the company posted $1.27 EPS. The company’s revenue was up 85.7% compared to the same quarter last year. As a group, research analysts predict that PDD will post 11.19 earnings per share for the current year.

Institutional Investors Weigh In On PDD

A number of institutional investors have recently made changes to their positions in PDD. Prospera Private Wealth LLC bought a new stake in shares of PDD in the third quarter valued at about $27,000. Venturi Wealth Management LLC bought a new stake in PDD in the 3rd quarter valued at about $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD in the 2nd quarter valued at about $32,000. Richardson Financial Services Inc. grew its position in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of PDD during the third quarter worth approximately $34,000. 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.