PDD (NASDAQ:PDD) Stock Rating Lowered by Dbs Bank

Dbs Bank cut shares of PDD (NASDAQ:PDD) from a strong-buy rating to a hold rating in a research note published on Friday morning,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Jefferies Financial Group reduced their price objective on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $170.00 to $105.00 in a research note on Friday. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and cut their target price for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Finally, Sanford C. Bernstein reduced their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 27th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, PDD currently has an average rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Price Performance

Shares of PDD stock opened at $100.69 on Friday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD has a 12 month low of $88.01 and a 12 month high of $164.69. The stock has a 50 day moving average of $123.31 and a 200 day moving average of $129.39. The firm has a market cap of $138.54 billion, a PE ratio of 9.83, a PEG ratio of 0.24 and a beta of 0.71.

PDD (NASDAQ:PDD) last posted its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The firm had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. PDD had a net margin of 29.05% and a return on equity of 46.08%. PDD’s revenue for the quarter was up 85.7% compared to the same quarter last year. During the same period last year, the firm posted $1.27 earnings per share. On average, research analysts expect that PDD will post 11.19 EPS for the current fiscal year.

Institutional Investors Weigh In On PDD

Several large investors have recently added to or reduced their stakes in PDD. Prime Capital Investment Advisors LLC raised its stake in shares of PDD by 5.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock valued at $244,000 after acquiring an additional 89 shares in the last quarter. Ballentine Partners LLC raised its position in PDD by 4.6% during the 2nd quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock valued at $359,000 after purchasing an additional 120 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of PDD by 5.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after buying an additional 122 shares during the period. Legacy Capital Group California Inc. lifted its holdings in shares of PDD by 6.8% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock worth $277,000 after buying an additional 133 shares during the period. Finally, OneDigital Investment Advisors LLC grew its position in shares of PDD by 6.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after buying an additional 166 shares in the last quarter. 29.07% of the stock is 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.