PDD (NASDAQ:PDD) Stock Rating Upgraded by Daiwa America

Daiwa America upgraded shares of PDD (NASDAQ:PDD) to a strong-buy rating in a report released on Tuesday, Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Citigroup downgraded shares of PDD from a buy rating to a neutral rating and decreased their price target for the stock from $194.00 to $120.00 in a research note on Tuesday. Benchmark lowered their price target on PDD from $230.00 to $185.00 and set a buy rating on the stock in a report on Tuesday. UBS Group upped their price objective on PDD from $248.00 to $272.00 and gave the company a buy rating in a research note on Wednesday, May 22nd. Macquarie lowered PDD from an outperform rating to a neutral rating in a report on Monday, August 26th. Finally, Jefferies Financial Group decreased their price target on PDD from $193.00 to $151.00 and set a buy rating for the company in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, PDD currently has a consensus rating of Buy and a consensus price target of $177.78.

PDD Stock Up 2.9 %

Shares of NASDAQ PDD opened at $96.11 on Tuesday. The company has a market capitalization of $132.24 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.26 and a beta of 0.63. PDD has a 1 year low of $88.01 and a 1 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 company has a 50 day simple moving average of $133.23 and a 200-day simple moving average of $132.12.

PDD (NASDAQ:PDD) last announced its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a net margin of 26.93% and a return on equity of 45.04%. The company had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same quarter last year, the firm posted $1.27 earnings per share. PDD’s revenue was up 85.7% compared to the same quarter last year. On average, equities research analysts predict that PDD will post 11.41 earnings per share for the current year.

Institutional Investors Weigh In On PDD

Several institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. increased its holdings in shares of PDD by 1.0% in the 2nd quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock valued at $4,670,322,000 after acquiring an additional 348,130 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of PDD by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock valued at $2,820,408,000 after purchasing an additional 97,648 shares in the last quarter. Hhlr Advisors LTD. grew its stake in shares of PDD by 16.6% in the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after purchasing an additional 1,680,600 shares during the last quarter. Norges Bank bought a new stake in shares of PDD in the 4th quarter worth approximately $1,075,172,000. Finally, Assenagon Asset Management S.A. lifted its stake in PDD by 16.2% during the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock valued at $786,237,000 after purchasing an additional 826,525 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other 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.