PDD (NASDAQ:PDD) Shares Down 0.6%

PDD Holdings Inc. (NASDAQ:PDD) dropped 0.6% during mid-day trading on Monday . The stock traded as low as $142.06 and last traded at $142.97. Approximately 1,355,467 shares were traded during trading, a decline of 85% from the average daily volume of 8,851,364 shares. The stock had previously closed at $143.86.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PDD. Barclays upped their price objective on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Benchmark lifted their price target on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Citigroup upped their price target on shares of PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $188.33.

PDD Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. The company has a 50 day moving average price of $140.29 and a 200 day moving average price of $134.94. The company has a market capitalization of $190.19 billion, a PE ratio of 18.31, a PEG ratio of 0.24 and a beta of 0.64.

PDD (NASDAQ:PDD) last posted its quarterly earnings data 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 firm had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $10.62 billion. Equities analysts forecast that PDD Holdings Inc. will post 11.41 EPS for the current year.

Institutional Investors Weigh In On PDD

Several institutional investors and hedge funds have recently made changes to their positions in PDD. Whittier Trust Co. of Nevada Inc. raised its position in shares of PDD by 2.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock worth $491,000 after purchasing an additional 66 shares during the period. Johnson Investment Counsel Inc. raised its holdings in PDD by 2.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock worth $480,000 after purchasing an additional 78 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in PDD by 2.6% in the first quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock worth $444,000 after purchasing an additional 98 shares during the period. EverSource Wealth Advisors LLC boosted its stake in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after purchasing an additional 101 shares in the last quarter. Finally, PDS Planning Inc increased its position in shares of PDD by 5.2% during the 4th quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock valued at $341,000 after purchasing an additional 116 shares during the period. 29.07% of the stock is owned by institutional investors and hedge funds.

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.