Jefferies Financial Group Lowers PDD (NASDAQ:PDD) Price Target to $171.00

PDD (NASDAQ:PDD) had its target price reduced by research analysts at Jefferies Financial Group from $181.00 to $171.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 64.28% from the stock’s current price.

A number of other equities research analysts also recently commented on PDD. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and decreased their price target for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Bank of America cut their price objective on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Benchmark decreased their target price on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, Sanford C. Bernstein cut their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $184.40.

PDD Stock Down 10.6 %

NASDAQ PDD traded down $12.40 on Thursday, hitting $104.09. 33,019,289 shares of the stock were exchanged, compared to its average volume of 10,665,496. PDD has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. The company has a market cap of $143.21 billion, a PE ratio of 11.22, a PEG ratio of 0.28 and a beta of 0.71. The company has a 50-day moving average price of $123.00 and a 200-day moving average price of $130.21.

PDD (NASDAQ:PDD) last announced its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The firm had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same period in the prior year, the firm earned $1.27 EPS. The business’s revenue was up 85.7% on a year-over-year basis. Sell-side analysts anticipate that PDD will post 11.19 EPS for the current fiscal year.

Institutional Investors Weigh In On PDD

A number of institutional investors and hedge funds have recently bought and sold shares of PDD. Prime Capital Investment Advisors LLC boosted its holdings in PDD by 5.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock worth $244,000 after buying an additional 89 shares in the last quarter. Ballentine Partners LLC raised its position in shares of PDD by 4.6% during the second quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock worth $359,000 after purchasing an additional 120 shares during the period. Parallel Advisors LLC boosted its position in shares of PDD by 5.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock valued at $324,000 after purchasing an additional 122 shares during the period. Legacy Capital Group California Inc. increased its stake in PDD by 6.8% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock worth $277,000 after purchasing an additional 133 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its stake in PDD by 6.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $354,000 after buying an additional 166 shares in the last quarter. 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.