PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives $144.55 Average Target Price from Brokerages

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $144.55.

Several equities research analysts have issued reports on the company. China Renaissance restated a “hold” rating and set a $107.00 target price on shares of PDD in a research report on Wednesday, May 28th. Macquarie reiterated an “outperform” rating on shares of PDD in a research note on Tuesday, May 27th. Jefferies Financial Group set a $121.00 price objective on PDD and gave the stock a “buy” rating in a report on Tuesday, May 27th. Barclays downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Sunday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $112.00 price target on shares of PDD in a research report on Wednesday, May 28th.

Hedge Funds Weigh In On PDD

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of PDD by 9,469.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company’s stock valued at $4,695,948,000 after buying an additional 39,263,851 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in PDD by 4,562.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock worth $1,706,527,000 after acquiring an additional 14,110,042 shares in the last quarter. Norges Bank bought a new position in PDD in the fourth quarter valued at $812,246,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in PDD by 899.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company’s stock valued at $1,063,489,000 after purchasing an additional 8,086,620 shares in the last quarter. Finally, Sanders Capital LLC purchased a new stake in PDD during the fourth quarter valued at about $499,972,000. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Up 0.2%

Shares of NASDAQ:PDD opened at $118.45 on Wednesday. The firm has a market capitalization of $164.90 billion, a PE ratio of 12.75, a P/E/G ratio of 1.66 and a beta of 0.42. The company has a 50-day moving average price of $106.17 and a two-hundred day moving average price of $109.68. PDD has a twelve month low of $87.11 and a twelve month high of $155.67.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.88). PDD had a net margin of 24.63% and a return on equity of 33.76%. The business had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $103.37 billion. During the same quarter in the previous year, the company posted $20.72 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that PDD will post 10.24 earnings per share for the current fiscal year.

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.