PDD (NASDAQ:PDD) Shares Gap Down to $130.80

PDD Holdings Inc. (NASDAQ:PDD) gapped down before the market opened on Monday . The stock had previously closed at $130.80, but opened at $127.68. PDD shares last traded at $128.41, with a volume of 801,067 shares changing hands.

Wall Street Analyst Weigh In

PDD has been the subject of a number of analyst reports. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $184.00 in a report on Friday, May 24th. Bank of America upped their price target on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Benchmark upped their price target on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Barclays upped their price target on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Finally, Sanford C. Bernstein upped their price target on shares of PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PDD has a consensus rating of “Buy” and an average price target of $188.33.

PDD Trading Down 1.9 %

The firm has a market capitalization of $176.52 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 0.23 and a beta of 0.63. The business’s 50-day moving average is $141.81 and its 200 day moving average is $133.02. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $1.19. PDD had a net margin of 26.93% and a return on equity of 45.04%. The business had revenue of $12.02 billion for the quarter, compared to analyst estimates of $10.62 billion. As a group, analysts anticipate that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

Institutional Investors Weigh In On PDD

A number of large investors have recently bought and sold shares of PDD. Future Financial Wealth Managment LLC acquired a new stake in shares of PDD in the 1st quarter valued at approximately $29,000. Mather Group LLC. boosted its stake in shares of PDD by 1,106.3% in the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PDD in the 4th quarter valued at approximately $59,000. Ridgewood Investments LLC acquired a new stake in PDD during the 2nd quarter worth approximately $60,000. Finally, EverSource Wealth Advisors LLC raised its holdings in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

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.