PDD (NASDAQ:PDD) Stock Price Down 0.3%

PDD Holdings Inc. (NASDAQ:PDD) shares traded down 0.3% during trading on Thursday . The stock traded as low as $130.32 and last traded at $131.42. 1,514,544 shares traded hands during trading, a decline of 82% from the average session volume of 8,468,773 shares. The stock had previously closed at $131.87.

Analysts Set New Price Targets

PDD has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on shares of PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein boosted their target price on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $184.00 in a research note on Friday, May 24th. Barclays boosted their target price on shares of PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Finally, Bank of America boosted their target price on shares of PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $188.33.

PDD Trading Down 0.5 %

The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $180.58 billion, a P/E ratio of 17.48, a P/E/G ratio of 0.23 and a beta of 0.63. The firm’s 50 day simple moving average is $142.39 and its two-hundred day simple moving average is $133.40.

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

Institutional Investors Weigh In On PDD

A number of institutional investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in PDD in the first quarter valued at about $29,000. Mather Group LLC. boosted its stake in PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PDD during the 4th quarter valued at approximately $59,000. EverSource Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 101 shares in the last quarter. Finally, AJOVista LLC purchased a new stake in shares of PDD during the 4th quarter valued at approximately $103,000. 29.07% of the stock is owned by 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.