PDD (NASDAQ:PDD) Shares Down 5.6% Following Analyst Downgrade

PDD Holdings Inc. (NASDAQ:PDD)’s stock price fell 5.6% on Wednesday after Barclays lowered their price target on the stock from $224.00 to $158.00. Barclays currently has an overweight rating on the stock. PDD traded as low as $90.47 and last traded at $90.50. 15,344,788 shares traded hands during trading, an increase of 68% from the average session volume of 9,137,335 shares. The stock had previously closed at $95.91.

Other research analysts have also issued research reports about the company. Macquarie lowered PDD from an “outperform” rating to a “neutral” rating in a research report on Monday. Sanford C. Bernstein decreased their target price on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday. Jefferies Financial Group decreased their target price on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday. UBS Group boosted their target price on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.33.

Institutional Trading of PDD

Several institutional investors have recently added to or reduced their stakes in PDD. Future Financial Wealth Managment LLC bought a new stake in shares of PDD during the 1st quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of PDD during the 2nd quarter valued at $32,000. Richardson Financial Services Inc. lifted its position 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 period. Strategic Financial Concepts LLC bought a new stake in shares of PDD during the 2nd quarter valued at $40,000. Finally, Mather Group LLC. lifted its position in shares of PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares during the period. 29.07% of the stock is currently owned by institutional investors.

PDD Trading Down 7.0 %

The business has a 50-day moving average price of $135.34 and a two-hundred day moving average price of $132.70. The stock has a market capitalization of $122.69 billion, a P/E ratio of 11.81, a P/E/G ratio of 0.26 and a beta of 0.63. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last released its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 45.04% and a net margin of 26.93%. The firm had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the prior year, the company posted $1.27 EPS. The company’s revenue was up 85.7% compared to the same quarter last year. On average, analysts expect that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

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.