PDD (NASDAQ:PDD) Stock Price Up 4.1%

PDD Holdings Inc. (NASDAQ:PDD)’s share price rose 4.1% on Wednesday . The company traded as high as $129.09 and last traded at $128.17. Approximately 2,263,121 shares changed hands during trading, a decline of 73% from the average daily volume of 8,392,028 shares. The stock had previously closed at $123.16.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $184.00 in a research report on Friday, May 24th. Sanford C. Bernstein upped their price objective on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Citigroup upped their price target on shares of PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Barclays upped their price target on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $188.33.

PDD Stock Performance

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 company’s 50-day moving average price is $140.98 and its two-hundred day moving average price is $132.68. The company has a market capitalization of $177.34 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 0.22 and a beta of 0.63.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.44 by $1.19. PDD had a net margin of 26.93% and a return on equity of 45.04%. The company had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $10.62 billion. On average, equities research analysts anticipate that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Triasima Portfolio Management inc. bought a new position in PDD during the fourth quarter worth $1,813,000. Los Angeles Capital Management LLC boosted its stake in PDD by 149.0% during the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after acquiring an additional 177,600 shares in the last quarter. Hhlr Advisors LTD. boosted its stake in PDD by 37.5% during the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after acquiring an additional 2,760,100 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of PDD by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after buying an additional 62,312 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of PDD in the fourth quarter valued at $13,379,000. 29.07% of the stock is owned by institutional investors.

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.