PDD (NASDAQ:PDD) Trading Up 0.1%

Shares of PDD Holdings Inc. (NASDAQ:PDD) traded up 0.1% during mid-day trading on Wednesday . The stock traded as high as $98.94 and last traded at $98.51. 1,095,212 shares were traded during trading, a decline of 89% from the average session volume of 9,664,087 shares. The stock had previously closed at $98.38.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Benchmark lowered their price objective on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $184.00 in a research note on Friday, May 24th. Bank of America decreased their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a 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 on the stock in a research note on Tuesday, August 27th. Finally, Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and reduced their price target for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, PDD presently has a consensus rating of “Buy” and a consensus target price of $177.78.

PDD Stock Up 0.2 %

The company’s 50-day simple moving average is $122.40 and its two-hundred day simple moving average is $128.97. The firm has a market capitalization of $135.58 billion, a P/E ratio of 13.05, a P/E/G ratio of 0.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11.

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

Institutional Trading of PDD

Several institutional investors have recently made changes to their positions in the business. Checchi Capital Advisers LLC lifted its stake in PDD by 2.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock worth $444,000 after purchasing an additional 98 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position 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 in the last quarter. Ballentine Partners LLC grew its holdings in PDD by 4.6% during the 2nd quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock valued at $359,000 after buying an additional 120 shares in the last quarter. Parallel Advisors LLC grew its holdings in PDD by 5.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock valued at $324,000 after buying an additional 122 shares in the last quarter. Finally, Legacy Capital Group California Inc. increased its position in PDD by 6.8% in the second quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock worth $277,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Company Profile

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.