PDD (NASDAQ:PDD) Rating Lowered to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of PDD (NASDAQ:PDD) from an overweight rating to a neutral rating in a research report released on Friday, MarketBeat reports. They currently have $105.00 price target on the stock, down from their previous price target of $170.00.

Several other equities research analysts have also issued reports on PDD. 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 note on Tuesday, August 27th. Daiwa America raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Finally, Nomura Securities raised shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $173.40.

PDD Trading Up 0.6 %

Shares of PDD opened at $100.69 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD has a 1-year low of $88.01 and a 1-year high of $164.69. The company has a market capitalization of $138.54 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.24 and a beta of 0.71. The firm’s 50 day simple moving average is $123.31 and its 200 day simple moving average is $129.39.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. The company had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 29.05% and a return on equity of 46.08%. The firm’s revenue was up 85.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 EPS. Sell-side analysts forecast that PDD will post 11.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PDD

A number of large investors have recently added to or reduced their stakes in PDD. Prospera Private Wealth LLC purchased a new stake in shares of PDD during the third quarter worth about $27,000. Venturi Wealth Management LLC purchased a new stake in PDD in the 3rd quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of PDD in the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. increased its stake in shares of PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after buying an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of PDD during the third quarter valued at approximately $34,000. 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.