PDD (NASDAQ:PDD) Shares Up 3.9%

PDD Holdings Inc. (NASDAQ:PDD) shot up 3.9% during trading on Monday . The company traded as high as $119.82 and last traded at $117.88. 4,538,336 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 8,197,584 shares. The stock had previously closed at $113.49.

Analyst Ratings Changes

A number of research firms recently commented on PDD. Barclays boosted their target price on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Jefferies Financial Group boosted their price target on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Benchmark upped their price objective on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Citigroup boosted their target price on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.85.

PDD Stock Performance

The stock’s 50-day moving average price is $122.14 and its 200 day moving average price is $126.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83. The firm has a market cap of $168.93 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The firm had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. As a group, equities analysts predict that PDD Holdings Inc. will post 7.85 EPS for the current year.

Hedge Funds Weigh In On PDD

Several institutional investors and hedge funds have recently modified their holdings of PDD. CWM LLC grew its stake in shares of PDD by 22.7% in the third quarter. CWM LLC now owns 758 shares of the company’s stock valued at $74,000 after acquiring an additional 140 shares in the last quarter. AE Wealth Management LLC acquired a new position in shares of PDD in the third quarter valued at about $542,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new position in shares of PDD in the third quarter valued at about $11,768,000. PDS Planning Inc bought a new stake in PDD during the third quarter worth about $217,000. Finally, Compagnie Lombard Odier SCmA lifted its position in PDD by 15,437.6% during the third quarter. Compagnie Lombard Odier SCmA now owns 85,457 shares of the company’s stock worth $8,381,000 after purchasing an additional 84,907 shares during the period. 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.