Jefferies Financial Group Issues Pessimistic Forecast for PDD (NASDAQ:PDD) Stock Price

PDD (NASDAQ:PDD) had its target price cut by Jefferies Financial Group from $181.00 to $171.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and increased their price target for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Sanford C. Bernstein reduced their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Barclays dropped their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Finally, Bank of America reduced their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $173.40.

PDD Price Performance

Shares of NASDAQ:PDD opened at $100.07 on Thursday. The firm has a market capitalization of $137.68 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.25 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. The business’s 50 day simple moving average is $123.24 and its 200-day simple moving average is $129.64. PDD has a 12 month low of $88.01 and a 12 month high of $164.69.

PDD (NASDAQ:PDD) last posted its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 49.53% and a net margin of 29.05%. The company had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the previous year, the business earned $1.27 earnings per share. PDD’s quarterly revenue was up 85.7% compared to the same quarter last year. As a group, equities analysts forecast that PDD will post 11.19 earnings per share for the current fiscal year.

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently modified their holdings of PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PDD by 1,374.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after purchasing an additional 12,253,589 shares in the last quarter. H&H International Investment LLC boosted its stake in shares of PDD by 3,693.8% during the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after buying an additional 3,804,600 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of PDD by 107.8% during the second quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock worth $487,984,000 after buying an additional 1,904,155 shares in the last quarter. Tairen Capital Ltd increased its stake in shares of PDD by 49.8% in the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after buying an additional 1,788,076 shares during the last quarter. Finally, FMR LLC raised its holdings in PDD by 8.6% in the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after acquiring an additional 1,654,764 shares in the last quarter. 29.07% of the stock is owned by hedge funds and other institutional investors.

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.