PDD Holdings Inc. (NASDAQ:PDD) Given Average Recommendation of “Buy” by Analysts

PDD Holdings Inc. (NASDAQ:PDDGet Free Report) has received a consensus rating of “Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $128.04.

Several research firms have issued reports on PDD. UBS Group reissued a “buy” rating and issued a $137.00 price target (up previously from $115.00) on shares of PDD in a research note on Wednesday, November 1st. The Goldman Sachs Group lifted their price target on PDD from $137.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Finally, Benchmark lifted their target price on PDD from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd.

Check Out Our Latest Research Report on PDD

Hedge Funds Weigh In On PDD

A number of hedge funds and other institutional investors have recently bought and sold shares of PDD. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of PDD by 136.0% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 257,145 shares of the company’s stock worth $10,857,000 after acquiring an additional 148,166 shares during the period. Advisor Group Holdings Inc. boosted its holdings in shares of PDD by 100.2% during the first quarter. Advisor Group Holdings Inc. now owns 3,741 shares of the company’s stock worth $152,000 after acquiring an additional 1,872 shares during the period. Raymond James & Associates boosted its holdings in shares of PDD by 16.1% during the first quarter. Raymond James & Associates now owns 16,641 shares of the company’s stock worth $667,000 after acquiring an additional 2,304 shares during the period. American Century Companies Inc. boosted its holdings in shares of PDD by 30.7% during the first quarter. American Century Companies Inc. now owns 28,785 shares of the company’s stock worth $1,155,000 after acquiring an additional 6,766 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in shares of PDD by 16.5% during the first quarter. Panagora Asset Management Inc. now owns 40,548 shares of the company’s stock worth $1,626,000 after acquiring an additional 5,744 shares during the period. Institutional investors own 31.08% of the company’s stock.

PDD Stock Up 3.2 %

Shares of PDD opened at $131.57 on Thursday. The company has a market capitalization of $173.62 billion, a P/E ratio of 29.57, a PEG ratio of 0.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.83 and a quick ratio of 1.83. PDD has a one year low of $59.67 and a one year high of $152.99. The business’s 50 day simple moving average is $141.36 and its 200-day simple moving average is $115.31.

PDD (NASDAQ:PDDGet Free Report) last posted its quarterly earnings data on Tuesday, November 28th. The company reported $11.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.94 by $2.67. PDD had a return on equity of 34.07% and a net margin of 23.25%. The firm had revenue of $68.84 billion for the quarter, compared to the consensus estimate of $55.18 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s revenue for the quarter was up 93.9% compared to the same quarter last year. As a group, sell-side analysts predict that PDD will post 4.98 EPS for the current fiscal year.

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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