PDD (NASDAQ:PDD) Shares Down 1%

PDD Holdings Inc. (NASDAQ:PDD) fell 1% during trading on Monday . The stock traded as low as $93.99 and last traded at $94.03. 2,145,349 shares were traded during mid-day trading, a decline of 78% from the average session volume of 9,694,877 shares. The stock had previously closed at $94.99.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PDD shares. Jefferies Financial Group cut their price target on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Daiwa America raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Barclays reduced their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, PDD currently has a consensus rating of “Buy” and a consensus price target of $177.78.

PDD Trading Down 0.2 %

The company’s fifty day simple moving average is $122.40 and its two-hundred day simple moving average is $128.97. The company has a market capitalization of $135.15 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02.

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

Hedge Funds Weigh In On PDD

Several institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in PDD during the 2nd quarter worth approximately $1,211,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of PDD during the second quarter worth $15,329,000. Cetera Investment Advisers increased its position in shares of PDD by 21.2% during the second quarter. Cetera Investment Advisers now owns 41,554 shares of the company’s stock worth $5,525,000 after acquiring an additional 7,255 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of PDD by 9.4% during the second quarter. NewEdge Advisors LLC now owns 15,207 shares of the company’s stock worth $2,022,000 after acquiring an additional 1,304 shares during the period. Finally, Creative Planning lifted its position in PDD by 29.4% in the 2nd quarter. Creative Planning now owns 20,625 shares of the company’s stock valued at $2,742,000 after acquiring an additional 4,680 shares in the last quarter. 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.