Brokerages Set PDD Holdings Inc. (NASDAQ:PDD) Price Target at $188.33

PDD Holdings Inc. (NASDAQ:PDD) has been assigned an average rating of “Buy” from the nine analysts that are currently covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $188.33.

PDD has been the topic of a number of recent research reports. UBS Group increased their price target on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Citigroup raised their target price on shares of PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Barclays raised their target price on shares of PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Finally, Sanford C. Bernstein raised their target price on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd.

PDD Stock Up 0.4 %

Shares of NASDAQ PDD opened at $133.15 on Thursday. PDD has a one year low of $75.44 and a one year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09. The firm’s 50 day simple moving average is $138.16 and its two-hundred day simple moving average is $132.14. The stock has a market capitalization of $183.20 billion, a P/E ratio of 17.64, a PEG ratio of 0.22 and a beta of 0.63.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $1.19. PDD had a net margin of 26.93% and a return on equity of 45.04%. The business had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $10.62 billion. As a group, analysts expect that PDD will post 11.41 EPS for the current fiscal year.

Institutional Trading of PDD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Johnson Investment Counsel Inc. lifted its position in PDD by 2.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after buying an additional 78 shares during the period. Checchi Capital Advisers LLC lifted its position in PDD by 2.6% during the first quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after buying an additional 98 shares during the period. EverSource Wealth Advisors LLC lifted its position in PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after buying an additional 101 shares during the period. PDS Planning Inc lifted its position in PDD by 5.2% during the fourth quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock valued at $341,000 after buying an additional 116 shares during the period. Finally, Ballentine Partners LLC lifted its position in PDD by 4.6% during the second quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock valued at $359,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 29.07% of the company’s stock.

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.