Jefferies Financial Group Issues Pessimistic Forecast for PDD (NASDAQ:PDD) Stock Price

PDD (NASDAQ:PDD) had its target price decreased by Jefferies Financial Group from $181.00 to $171.00 in a research note published on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the company. 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. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Barclays dropped their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Benchmark cut their price target on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Sanford C. Bernstein lowered their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of “Buy” and a consensus target price of $173.40.

PDD Stock Performance

NASDAQ:PDD opened at $100.07 on Thursday. The stock has a 50 day simple moving average of $123.24 and a 200 day simple moving average of $129.71. The stock has a market cap of $137.68 billion, a P/E ratio of 9.77, a PEG ratio of 0.25 and a beta of 0.71. PDD has a 1-year low of $88.01 and a 1-year high of $164.69. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last announced its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. The company had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a net margin of 29.05% and a return on equity of 49.53%. The business’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same period last year, the firm earned $1.27 earnings per share. Research analysts anticipate that PDD will post 11.19 earnings per share for the current year.

Institutional Investors Weigh In On PDD

Several hedge funds have recently modified their holdings of PDD. Prospera Private Wealth LLC acquired a new position in PDD in the 3rd quarter valued at approximately $27,000. Venturi Wealth Management LLC bought a new stake in shares of PDD in the third quarter worth $29,000. Ashton Thomas Private Wealth LLC bought a new position in PDD during the 2nd quarter worth $32,000. Richardson Financial Services Inc. lifted its holdings in PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of PDD in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

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.