Jefferies Financial Group Has Lowered Expectations for PDD (NASDAQ:PDD) Stock Price

PDD (NASDAQ:PDD) had its target price dropped by stock analysts at Jefferies Financial Group from $181.00 to $171.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 64.28% from the company’s current price.

PDD has been the topic of a number of other reports. Daiwa America upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Nomura Securities upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Barclays lowered their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Finally, Bank of America cut their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, PDD has an average rating of “Buy” and a consensus target price of $184.40.

PDD Price Performance

PDD traded down $12.40 on Thursday, reaching $104.09. The company had a trading volume of 33,019,289 shares, compared to its average volume of 10,665,496. PDD has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a market cap of $143.21 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 0.28 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The business has a 50 day simple moving average of $123.00 and a 200 day simple moving average of $130.21.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. The company had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm’s revenue was up 85.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 EPS. As a group, sell-side analysts anticipate that PDD will post 11.19 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. TB Alternative Assets Ltd. raised its holdings in shares of PDD by 33.7% during the third quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock worth $23,342,000 after purchasing an additional 43,648 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in PDD by 13.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock worth $31,589,000 after purchasing an additional 27,567 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of PDD by 63.7% in the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after purchasing an additional 89,853 shares during the last quarter. BOCHK Asset Management Ltd increased its stake in shares of PDD by 3,391.7% in the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock worth $5,649,000 after acquiring an additional 40,700 shares during the last quarter. Finally, M&G PLC raised its holdings in shares of PDD by 14.2% during the 3rd quarter. M&G PLC now owns 247,417 shares of the company’s stock worth $33,401,000 after acquiring an additional 30,817 shares during the period. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

About PDD

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.