PDD (NASDAQ:PDD) Stock Price Down 1.4%

PDD Holdings Inc. (NASDAQ:PDD) shares were down 1.4% on Thursday . The company traded as low as $90.16 and last traded at $91.46. Approximately 3,877,818 shares changed hands during trading, a decline of 60% from the average daily volume of 9,655,001 shares. The stock had previously closed at $92.75.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PDD shares. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Macquarie lowered shares of PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Finally, Sanford C. Bernstein lowered their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, PDD presently has a consensus rating of “Buy” and an average price target of $177.78.

PDD Stock Up 0.7 %

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 company has a market cap of $128.37 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.23 and a beta of 0.69. The business has a 50-day simple moving average of $128.03 and a 200-day simple moving average of $130.53.

PDD (NASDAQ:PDD) last released its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The company’s revenue for the quarter was up 85.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. On average, equities analysts anticipate that PDD Holdings Inc. will post 11.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of PDD during the 2nd quarter valued at $32,000. Richardson Financial Services Inc. raised its holdings in shares of PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after acquiring an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD during the first quarter worth $29,000. Mather Group LLC. raised its holdings in PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after buying an additional 354 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new position in PDD during the fourth quarter valued at about $59,000. Institutional investors own 29.07% of the company’s stock.

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.