PDD (NASDAQ:PDD) Announces Quarterly Earnings Results

PDD (NASDAQ:PDD) announced its quarterly earnings data on Monday. The company reported $23.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $20.58, Briefing.com reports. PDD had a return on equity of 45.04% and a net margin of 26.93%. The firm had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. During the same quarter in the prior year, the firm posted $1.27 earnings per share. PDD’s revenue for the quarter was up 85.7% compared to the same quarter last year.

PDD Stock Performance

Shares of NASDAQ PDD opened at $95.91 on Wednesday. The stock has a fifty day moving average price of $136.31 and a two-hundred day moving average price of $132.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. The firm has a market cap of $131.96 billion, a P/E ratio of 12.70, a PEG ratio of 0.26 and a beta of 0.63. PDD has a 1 year low of $79.00 and a 1 year high of $164.69.

Wall Street Analyst Weigh In

PDD has been the topic of several research reports. Benchmark cut their price objective on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup cut PDD from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $194.00 to $120.00 in a research report on Tuesday. Barclays dropped their price target on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday. Jefferies Financial Group dropped their price target on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research report on Monday. Finally, UBS Group increased their price target on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $163.33.

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.