PDD’s (PDD) Neutral Rating Reaffirmed at Nomura

PDD (NASDAQ:PDD)‘s stock had its “neutral” rating reiterated by Nomura in a report released on Thursday, MarketBeat reports. They currently have a $130.00 price target on the stock, down from their prior price target of $137.00. Nomura’s price objective suggests a potential downside of 0.70% from the company’s previous close.

Several other brokerages also recently commented on PDD. Jefferies Financial Group lowered their price target on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Benchmark lowered their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Four 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.09.

PDD Trading Up 4.0 %

NASDAQ:PDD opened at $130.92 on Thursday. The stock’s 50 day moving average price is $115.12 and its 200 day moving average price is $112.92. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a market capitalization of $180.13 billion, a P/E ratio of 12.79, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Thursday, March 20th. The company reported $20.15 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $17.59. PDD had a return on equity of 46.08% and a net margin of 29.05%. The firm had revenue of $110.61 billion for the quarter, compared to the consensus estimate of $115.77 billion. During the same quarter in the prior year, the company posted $17.32 earnings per share. The firm’s revenue was up 24.4% on a year-over-year basis. On average, research analysts forecast that PDD will post 10.24 EPS for the current fiscal year.

Institutional Investors Weigh In On PDD

Hedge funds have recently modified their holdings of the business. Prospera Private Wealth LLC bought a new position in shares of PDD during the 3rd quarter worth about $27,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD during the 4th quarter worth about $39,000. Avior Wealth Management LLC lifted its holdings in PDD by 50.9% during the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after purchasing an additional 169 shares during the last quarter. Brooklyn Investment Group lifted its holdings in PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares during the last quarter. 39.83% of the stock is 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.