PDD (NASDAQ:PDD) Stock Price Down 3%

PDD Holdings Inc. (NASDAQ:PDD) traded down 3% during mid-day trading on Monday . The stock traded as low as $126.73 and last traded at $126.94. 2,586,487 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 8,408,838 shares. The stock had previously closed at $130.80.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays boosted 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. Benchmark upped their target price on shares of PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Sanford C. Bernstein upped their target price on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Bank of America upped their target price on shares of PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $188.33.

PDD Stock Down 2.3 %

The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $175.77 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 0.23 and a beta of 0.63. The company’s fifty day simple moving average is $141.81 and its 200 day simple moving average is $133.02.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 EPS 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 business had revenue of $12.02 billion during the quarter, compared to analyst estimates of $10.62 billion. Research analysts expect that PDD Holdings Inc. will post 11.41 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PDD. Triasima Portfolio Management inc. bought a new stake in PDD during the 4th quarter valued at about $1,813,000. Los Angeles Capital Management LLC boosted its holdings in shares of PDD by 149.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after acquiring an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. boosted its holdings in shares of PDD by 37.5% during the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after acquiring an additional 2,760,100 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of PDD by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after acquiring an additional 62,312 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of PDD during the 4th quarter valued at about $13,379,000. 29.07% of the stock is currently 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.