PDD (NASDAQ:PDD) Cut to “Hold” at Dbs Bank

Dbs Bank lowered shares of PDD (NASDAQ:PDD) from a strong-buy rating to a hold rating in a research report released on Friday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Sanford C. Bernstein lowered their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Benchmark lowered their price objective on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $105.00 in a research note on Friday. Finally, Bank of America dropped their price target on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, PDD has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Trading Up 0.6 %

Shares of NASDAQ:PDD opened at $100.69 on Friday. The company has a market capitalization of $138.54 billion, a PE ratio of 9.83, a P/E/G ratio of 0.24 and a beta of 0.71. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD has a 12-month low of $88.01 and a 12-month high of $164.69. The business’s fifty day simple moving average is $123.31 and its 200-day simple moving average is $129.39.

PDD (NASDAQ:PDD) last announced its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 29.05% and a return on equity of 46.08%. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the previous year, the company posted $1.27 earnings per share. The firm’s revenue was up 85.7% on a year-over-year basis. As a group, equities research analysts predict that PDD will post 11.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PDD

Several large investors have recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in PDD during the 3rd quarter worth $27,000. Venturi Wealth Management LLC acquired a new stake in PDD in the 3rd quarter valued at about $29,000. Ashton Thomas Private Wealth LLC purchased a new position in PDD in the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. boosted its holdings in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of PDD in the third quarter valued at approximately $34,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

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.