PDD (NASDAQ:PDD) Price Target Cut to $158.00

PDD (NASDAQ:PDD) had its price objective lowered by Barclays from $224.00 to $158.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also weighed in on PDD. Jefferies Financial Group dropped their price objective on shares of PDD from $193.00 to $151.00 and set a buy rating on the stock in a research note on Monday. UBS Group raised their price objective on shares of PDD from $248.00 to $272.00 and gave the company a buy rating in a research note on Wednesday, May 22nd. Sanford C. Bernstein dropped their price objective on shares of PDD from $235.00 to $170.00 and set an outperform rating on the stock in a research note on Tuesday. Bank of America dropped their price objective on shares of PDD from $206.00 to $170.00 and set a buy rating on the stock in a research note on Tuesday. Finally, Benchmark dropped their price objective on shares of PDD from $230.00 to $185.00 and set a buy rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $167.27.

PDD Stock Up 4.8 %

Shares of NASDAQ PDD opened at $93.42 on Tuesday. The firm has a market cap of $128.53 billion, a PE ratio of 12.37, a P/E/G ratio of 0.26 and a beta of 0.63. PDD has a 12-month low of $88.01 and a 12-month high of $164.69. The company’s fifty day simple moving average is $134.24 and its 200 day simple moving average is $132.39. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last issued its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $20.58. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. During the same period in the prior year, the firm earned $1.27 earnings per share. PDD’s revenue was up 85.7% on a year-over-year basis. As a group, sell-side analysts forecast that PDD will post 11.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PDD. Future Financial Wealth Managment LLC purchased a new stake in PDD during the first quarter worth about $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in PDD during the second quarter worth about $32,000. Richardson Financial Services Inc. increased its holdings in PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in PDD during the second quarter worth about $40,000. Finally, Mather Group LLC. increased its holdings in PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after buying an additional 354 shares during the last quarter. 29.07% of the stock is owned by institutional investors.

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.