PDD Holdings Inc. (NASDAQ:PDD) Receives Consensus Recommendation of “Buy” from Analysts

Shares of PDD Holdings Inc. (NASDAQ:PDD) have received an average rating of “Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $182.31.

Several research analysts have recently commented on the company. Barclays lifted their price target on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America raised their price target on shares of PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $184.00 in a research report on Friday. JPMorgan Chase & Co. decreased their price target on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Finally, Jefferies Financial Group boosted their price objective on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st.

PDD Stock Performance

PDD opened at $157.57 on Friday. The firm has a market capitalization of $216.80 billion, a PE ratio of 20.87, a PEG ratio of 0.40 and a beta of 0.67. The company has a current ratio of 2.09, a quick ratio of 1.93 and a debt-to-equity ratio of 0.02. PDD has a twelve month low of $59.98 and a twelve month high of $164.69. The firm’s 50-day moving average price is $128.33 and its 200 day moving average price is $131.34.

PDD (NASDAQ:PDD) last posted 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. The firm had revenue of $12.52 billion during the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. As a group, sell-side analysts expect that PDD will post 7.85 EPS for the current fiscal year.

Institutional Investors Weigh In On PDD

A number of hedge funds have recently added to or reduced their stakes in the business. SC US Ttgp LTD. grew its stake in PDD by 1,414.4% during the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after purchasing an additional 45,048,300 shares in the last quarter. Norges Bank purchased a new position in PDD in the fourth quarter valued at $1,075,172,000. Vanguard Group Inc. raised its stake in PDD by 38.0% in the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after buying an additional 6,637,418 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in PDD by 15,755.1% in the first quarter. Assenagon Asset Management S.A. now owns 5,087,255 shares of the company’s stock valued at $591,393,000 after buying an additional 5,055,169 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in PDD by 14.4% during the 3rd quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock worth $3,497,977,000 after buying an additional 4,501,126 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

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.