PDD (NASDAQ:PDD) Price Target Raised to $224.00

PDD (NASDAQ:PDD) had its price objective hoisted by Barclays from $178.00 to $224.00 in a research report released on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research firms have also recently commented on PDD. Benchmark raised their target price on shares of PDD from $220.00 to $230.00 and gave the company a buy rating in a research note on Thursday. Jefferies Financial Group raised their target price 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. The Goldman Sachs Group raised shares of PDD from a neutral rating to a buy rating and raised their target price for the company from $145.00 to $184.00 in a research note on Friday. Sanford C. Bernstein raised their target price on shares of PDD from $180.00 to $235.00 and gave the company an outperform rating in a research note on Thursday. Finally, Citigroup raised their target price on shares of PDD from $185.00 to $198.00 and gave the company a buy rating in a research note on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and an average target price of $182.31.

PDD Stock Up 2.6 %

PDD stock opened at $157.57 on Friday. The company has a quick ratio of 1.93, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. PDD has a fifty-two week low of $59.98 and a fifty-two week high of $164.69. The firm’s 50-day simple moving average is $128.33 and its 200 day simple moving average is $131.64. The stock has a market cap of $216.80 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 0.41 and a beta of 0.67.

PDD (NASDAQ:PDD) last released its quarterly earnings data 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 45.04%. The business had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. As a group, sell-side analysts predict that PDD will post 7.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in shares of PDD in the first quarter worth about $29,000. SRS Capital Advisors Inc. boosted its holdings 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 during the period. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PDD in the fourth quarter worth about $59,000. EverSource Wealth Advisors LLC boosted its holdings 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 during the period. Finally, Turim 21 Investimentos Ltda. acquired a new position in shares of PDD in the third quarter worth about $55,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

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.