PDD (NASDAQ:PDD) Releases Quarterly Earnings Results, Beats Estimates By $17.59 EPS

PDD (NASDAQ:PDD) posted its quarterly earnings results on Thursday. The company reported $20.15 EPS for the quarter, beating the consensus estimate of $2.56 by $17.59, Briefing.com reports. The firm had revenue of $110.61 billion during the quarter, compared to analysts’ expectations of $115.77 billion. PDD had a return on equity of 46.08% and a net margin of 29.05%. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter last year, the firm earned $17.32 earnings per share.

PDD Stock Up 4.0 %

PDD stock opened at $130.92 on Friday. PDD has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $180.13 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a fifty day moving average price of $115.12 and a 200 day moving average price of $112.92.

Wall Street Analysts Forecast Growth

PDD has been the topic of several analyst reports. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Jefferies Financial Group decreased their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday. Benchmark cut their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Nomura reaffirmed a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research report on Thursday. Finally, Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $168.09.

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.