PDD (NASDAQ:PDD) Stock Price Up 4.1%

PDD Holdings Inc. (NASDAQ:PDD) shares shot up 4.1% during mid-day trading on Wednesday . The stock traded as high as $129.09 and last traded at $128.17. 2,263,121 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 8,392,028 shares. The stock had previously closed at $123.16.

Wall Street Analyst Weigh In

Several research firms have issued reports on PDD. Citigroup lifted their target price on PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Benchmark lifted their target price on PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. UBS Group lifted their target price on PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Barclays raised their price target on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Finally, The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, PDD has a consensus rating of “Buy” and a consensus target price of $188.33.

PDD Price Performance

The company has a market capitalization of $177.34 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 0.22 and a beta of 0.63. The stock has a fifty day simple moving average of $140.98 and a 200-day simple moving average of $132.68. 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 announced its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $1.19. PDD had a return on equity of 45.04% and a net margin of 26.93%. The company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $10.62 billion. On average, equities research analysts anticipate that PDD Holdings Inc. will post 11.41 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Triasima Portfolio Management inc. purchased a new stake in shares of PDD in the fourth quarter valued at approximately $1,813,000. Los Angeles Capital Management LLC increased its position in shares of PDD by 149.0% in the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after buying an additional 177,600 shares in the last quarter. Hhlr Advisors LTD. increased its position in shares of PDD by 37.5% in the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after buying an additional 2,760,100 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PDD by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after buying an additional 62,312 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of PDD in the fourth quarter valued at approximately $13,379,000. 29.07% of the stock is owned by institutional investors and hedge funds.

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.