PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives $124.64 Average PT from Brokerages

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been assigned an average rating of “Hold” from the sixteen ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $124.6429.

A number of research analysts recently weighed in on PDD shares. The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Citigroup decreased their price objective on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. BNP Paribas Exane started coverage on PDD in a report on Monday, June 15th. They set an “underperform” rating and a $89.00 price objective on the stock. Benchmark cut their target price on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Finally, Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $165.00 to $89.00 in a report on Thursday, May 28th.

PDD Price Performance

Shares of PDD stock opened at $83.91 on Wednesday. The firm has a market cap of $119.44 billion and a PE ratio of 9.06. PDD has a 1 year low of $71.94 and a 1 year high of $139.41. The stock has a fifty day moving average price of $86.64 and a 200-day moving average price of $98.21.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($1.02). PDD had a return on equity of 24.32% and a net margin of 21.86%.The company had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter in the previous year, the business earned $1.57 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts anticipate that PDD will post 9.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PDD. Norges Bank purchased a new position in shares of PDD during the fourth quarter valued at about $1,065,446,000. H&H International Investment LLC raised its position in shares of PDD by 71.2% in the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after acquiring an additional 8,211,600 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of PDD by 305.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after acquiring an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC purchased a new position in shares of PDD in the 2nd quarter valued at approximately $482,273,000. Finally, Dodge & Cox purchased a new position in shares of PDD in the 4th quarter valued at approximately $503,429,000. 39.83% of the stock is currently owned by institutional investors.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.