PDD (NASDAQ:PDD) Price Target Raised to $224.00 at Barclays

PDD (NASDAQ:PDD) had its price target hoisted by analysts at Barclays from $178.00 to $224.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 41.68% from the stock’s previous close.

PDD has been the topic of a number of other reports. Sanford C. Bernstein increased their price target on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday. Citigroup increased their price objective on PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Financial Group boosted their price target on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Bank of America increased their price objective on PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their target price on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock 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 a consensus rating of “Buy” and an average price target of $182.31.

PDD Stock Performance

PDD traded up $4.47 during trading on Friday, hitting $158.10. 13,969,697 shares of the company traded hands, compared to its average volume of 8,929,919. The firm has a market cap of $217.53 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 0.38 and a beta of 0.67. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. PDD has a one year low of $59.98 and a one year high of $164.69. The stock’s fifty day moving average is $127.65 and its 200 day moving average is $130.99.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.81. PDD had a return on equity of 48.69% and a net margin of 26.93%. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. As a group, equities analysts predict that PDD will post 7.85 EPS for the current fiscal year.

Institutional Trading of PDD

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SC US Ttgp LTD. boosted its stake in shares of PDD by 1,414.4% in the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after buying an additional 45,048,300 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of PDD by 6.4% during the 4th quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock valued at $5,553,962,000 after buying an additional 2,292,068 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 worth $2,820,408,000 after acquiring an additional 97,648 shares during the period. FMR LLC grew its stake in PDD by 32.6% during the third quarter. FMR LLC now owns 17,635,104 shares of the company’s stock valued at $1,729,475,000 after acquiring an additional 4,334,186 shares in the last quarter. Finally, Hhlr Advisors LTD. grew its holdings in PDD by 16.6% during the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock valued at $1,370,767,000 after buying an additional 1,680,600 shares in the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Company Profile

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.