Brokerages Set PDD Holdings Inc. (NASDAQ:PDD) Target Price at $128.04

Shares of PDD Holdings Inc. (NASDAQ:PDDGet Free Report) have been given an average recommendation of “Buy” by the ten research firms that are currently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $128.04.

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

Read Our Latest Stock Analysis on PDD

PDD Price Performance

Shares of PDD stock opened at $127.48 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.83 and a current ratio of 1.83. PDD has a fifty-two week low of $59.67 and a fifty-two week high of $152.99. The firm has a market cap of $168.22 billion, a P/E ratio of 28.65, a P/E/G ratio of 0.44 and a beta of 0.69. The business’s 50 day moving average price is $141.58 and its 200-day moving average price is $114.76.

PDD (NASDAQ:PDDGet Free Report) last released its quarterly earnings results on Tuesday, November 28th. The company reported $11.61 earnings per share for the quarter, beating 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 company had revenue of $68.84 billion for the quarter, compared to analyst estimates of $55.18 billion. During the same period in the previous year, the company posted $1.03 earnings per share. The firm’s revenue was up 93.9% on a year-over-year basis. On average, equities research analysts anticipate that PDD will post 4.98 earnings per share for the current year.

Hedge Funds Weigh In On PDD

Hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors lifted its position in shares of PDD by 108.5% in the first quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after buying an additional 331 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after buying an additional 209 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of PDD in the fourth quarter worth about $43,000. Turim 21 Investimentos Ltda. purchased a new stake in shares of PDD in the third quarter worth about $55,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares in the last quarter. Institutional investors own 31.08% of the company’s stock.

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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