PDD (NASDAQ:PDD) Price Target Increased to $235.00 by Analysts at Sanford C. Bernstein

PDD (NASDAQ:PDD) had its price objective hoisted by stock analysts at Sanford C. Bernstein from $180.00 to $235.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Sanford C. Bernstein’s target price indicates a potential upside of 49.14% from the stock’s previous close.

PDD has been the subject of a number of other research reports. UBS Group lifted their target price on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday. Benchmark boosted their target price on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Jefferies Financial Group boosted their target price on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Citigroup upped their target price on PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Bank of America boosted their price objective on PDD from $191.00 to $206.00 and gave the company a “buy” rating in a report on Thursday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, PDD currently has a consensus rating of “Buy” and a consensus target price of $182.31.

PDD Stock Up 2.6 %

PDD stock opened at $157.57 on Thursday. PDD has a twelve month low of $59.98 and a twelve month high of $164.69. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The stock has a market cap of $216.80 billion, a P/E ratio of 20.87, a PEG ratio of 0.38 and a beta of 0.67. The business’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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. The business had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. PDD had a net margin of 26.93% and a return on equity of 48.69%. On average, equities research analysts forecast that PDD will post 7.85 EPS for the current year.

Institutional Trading of PDD

Several institutional investors have recently made changes to their positions in the company. SRS Capital Advisors Inc. boosted its position in shares of PDD by 294.4% during 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 during the period. Future Financial Wealth Managment LLC acquired a new position in PDD during the 1st quarter worth approximately $29,000. Turim 21 Investimentos Ltda. acquired a new stake in shares of PDD in the 3rd quarter valued at $55,000. Gordian Capital Singapore Pte Ltd purchased a new position in PDD in the fourth quarter valued at $59,000. Finally, EverSource Wealth Advisors LLC raised its stake in PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after buying an additional 101 shares in the last quarter. Hedge funds and other institutional investors 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.