PDD has been the topic of a number of other reports. Sanford C. Bernstein cut their price objective on PDD from $235.00 to $170.00 and set an "outperform" rating for the company in a research report on Tuesday, August 27th. Citigroup cut shares of PDD from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Benchmark reduced their price target on shares of PDD from $230.00 to $185.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. Jefferies Financial Group lowered their target price on shares of PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Barclays reduced their target price on shares of PDD from $224.00 to $158.00 and set an "overweight" rating for the company in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, PDD currently has an average rating of "Buy" and a consensus target price of $181.90.
Read Our Latest Analysis on PDD
PDD traded down $4.23 during trading on Friday, hitting $99.86. 7,047,051 shares of the stock were exchanged, compared to its average volume of 10,646,756. PDD has a 1 year low of $88.01 and a 1 year high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a 50 day simple moving average of $123.14 and a 200 day simple moving average of $130.03. The firm has a market cap of $137.39 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 0.28 and a beta of 0.71.
PDD (NASDAQ:PDD - Get Free Report) last announced its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The firm's revenue for the quarter was up 85.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 EPS. As a group, equities analysts expect that PDD will post 11.19 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its stake in shares of PDD by 2.8% during the third quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company's stock worth $4,868,859,000 after buying an additional 988,042 shares during the period. FMR LLC lifted its position in PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company's stock worth $2,821,595,000 after acquiring an additional 1,654,764 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of PDD by 1,374.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company's stock valued at $1,772,106,000 after purchasing an additional 12,253,589 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of PDD by 16.2% during the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company's stock worth $786,237,000 after purchasing an additional 826,525 shares during the last quarter. Finally, Tairen Capital Ltd lifted its holdings in shares of PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company's stock worth $715,055,000 after purchasing an additional 1,788,076 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.
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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