Analysts Set PDD Holdings Inc. (NASDAQ:PDD) Target Price at $177.78

PDD Holdings Inc. (NASDAQ:PDD) has earned an average rating of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $177.78.

A number of research firms recently weighed in on PDD. Barclays lowered their price target on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Bank of America dropped their price target on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Sanford C. Bernstein dropped their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and cut their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Finally, Benchmark lowered their price target on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th.

PDD Price Performance

PDD stock opened at $129.40 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD has a one year low of $88.01 and a one year high of $164.69. The company has a market cap of $178.04 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69. The business has a fifty day moving average of $118.46 and a two-hundred day moving average of $128.35.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating the consensus estimate of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same quarter last year, the business earned $1.27 earnings per share. The business’s revenue for the quarter was up 85.7% compared to the same quarter last year. As a group, analysts predict that PDD will post 11.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PDD. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PDD in the second quarter valued at $32,000. Richardson Financial Services Inc. increased its stake in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of PDD during the 1st quarter worth about $29,000. Mather Group LLC. grew its holdings in PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in PDD during the fourth quarter worth approximately $59,000. 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.