PDD (NASDAQ:PDD) Price Target Raised to $198.00

PDD (NASDAQ:PDD) had its target price boosted by Citigroup from $185.00 to $198.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently weighed in on PDD. Jefferies Financial Group boosted their price objective on PDD from $157.00 to $161.00 and gave the stock a buy rating in a research report on Thursday, March 21st. Benchmark increased their price objective on PDD from $220.00 to $230.00 and gave the company a buy rating in a research report on Thursday. UBS Group boosted their target price on shares of PDD from $248.00 to $272.00 and gave the stock a buy rating in a research report on Wednesday. The Goldman Sachs Group lowered shares of PDD from a buy rating to a neutral rating and set a $136.00 price target on the stock. in a research report on Monday, March 11th. Finally, Barclays boosted their price target on PDD from $164.00 to $178.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, PDD has an average rating of Buy and a consensus price target of $182.31.

PDD Stock Performance

Shares of NASDAQ PDD opened at $157.57 on Thursday. The business’s 50-day simple moving average is $128.33 and its 200-day simple moving average is $131.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.93 and a current ratio of 2.09. PDD has a 52 week low of $59.98 and a 52 week high of $164.69. The firm has a market cap of $216.80 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 0.40 and a beta of 0.67.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.42 by $0.81. PDD had a return on equity of 45.04% and a net margin of 26.93%. The company had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $11.80 billion. As a group, equities research analysts expect that PDD will post 7.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PDD

Large investors have recently made changes to their positions in the company. SC US Ttgp LTD. boosted its position in PDD by 1,414.4% in the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock valued at $4,730,242,000 after buying an additional 45,048,300 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of PDD by 6.4% during the fourth quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock worth $5,553,962,000 after purchasing an additional 2,292,068 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of PDD by 0.4% in the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock valued at $2,820,408,000 after buying an additional 97,648 shares during the last quarter. FMR LLC lifted its position in PDD by 32.6% during the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after buying an additional 4,334,186 shares in the last quarter. Finally, Hhlr Advisors LTD. lifted its position in PDD by 16.6% during the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after buying an additional 1,680,600 shares in the last quarter. 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.