Analysts Set PDD Holdings Inc. (NASDAQ:PDD) Target Price at $182.40

Shares of PDD Holdings Inc. (NASDAQ:PDD) have been given an average recommendation of “Buy” by the twelve ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $182.40.

PDD has been the topic of several recent analyst reports. Jefferies Financial Group reduced their target price on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Macquarie raised 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 research note on Monday, October 7th. Barclays lowered their target price on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Benchmark reduced their price target on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th.

PDD Stock Down 0.3 %

Shares of NASDAQ:PDD opened at $113.41 on Friday. The company’s fifty day moving average is $120.37 and its 200-day moving average is $130.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a market capitalization of $156.04 billion, a PE ratio of 12.22, a P/E/G ratio of 0.27 and a beta of 0.71.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The firm had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The company’s revenue for the quarter 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. Equities research analysts predict that PDD will post 11.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PDD. Prospera Private Wealth LLC acquired a new stake in PDD in the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC bought a new position in PDD during the 3rd quarter worth $29,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of PDD in the second quarter valued at about $32,000. Richardson Financial Services Inc. boosted its holdings in PDD by 3,883.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after purchasing an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the 3rd quarter worth approximately $34,000. 29.07% of the stock is currently owned by 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.