PDD (NASDAQ:PDD) Price Target Raised to $206.00 at Bank of America

PDD (NASDAQ:PDD) had its price objective upped by Bank of America from $191.00 to $206.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

PDD has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price on PDD from $195.00 to $190.00 and set an overweight rating on the stock in a report on Thursday, March 21st. Citigroup raised their target price on PDD from $170.00 to $185.00 and gave the stock a buy rating in a research report on Thursday, March 21st. The Goldman Sachs Group cut PDD from a buy rating to a neutral rating and set a $136.00 target price for the company. in a research note on Monday, March 11th. Jefferies Financial Group increased their price target on shares of PDD from $157.00 to $161.00 and gave the company a buy rating in a research note on Thursday, March 21st. Finally, Benchmark boosted their price objective on shares of PDD from $215.00 to $220.00 and gave the stock a buy rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PDD presently has an average rating of Moderate Buy and an average target price of $175.08.

PDD Trading Up 4.4 %

NASDAQ:PDD opened at $153.63 on Thursday. The stock has a fifty day moving average price of $127.65 and a 200 day moving average price of $130.99. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03. PDD has a 12-month low of $59.98 and a 12-month high of $160.00. The firm has a market cap of $211.37 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 0.38 and a beta of 0.67.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. PDD had a net margin of 26.93% and a return on equity of 48.69%. The firm had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. Sell-side analysts anticipate that PDD will post 7.85 earnings per share for the current fiscal year.

Institutional Trading of PDD

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of PDD during the first quarter valued at $1,924,000. EMC Capital Management lifted its stake in shares of PDD by 116.7% during the first quarter. EMC Capital Management now owns 6,500 shares of the company’s stock valued at $765,000 after buying an additional 3,500 shares during the period. Wahed Invest LLC boosted its position in PDD by 39.0% during the first quarter. Wahed Invest LLC now owns 7,501 shares of the company’s stock worth $872,000 after acquiring an additional 2,103 shares during the last quarter. Artal Group S.A. raised its holdings in PDD by 73.8% in the 1st quarter. Artal Group S.A. now owns 56,500 shares of the company’s stock valued at $6,568,000 after acquiring an additional 24,000 shares during the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in shares of PDD by 6.5% during the 1st quarter. iA Global Asset Management Inc. now owns 73,060 shares of the company’s stock worth $8,493,000 after purchasing an additional 4,467 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

About PDD

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.