PDD (NASDAQ:PDD) Lowered to “Hold” Rating by Dbs Bank

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

Several other equities analysts have also recently weighed in on the company. Sanford C. Bernstein cut their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Barclays cut their price target on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, PDD has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Stock Up 0.6 %

PDD opened at $100.69 on Friday. PDD has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The business has a 50 day moving average price of $123.31 and a 200 day moving average price of $129.39. The firm has a market cap of $138.54 billion, a P/E ratio of 9.83, a price-to-earnings-growth ratio of 0.24 and a beta of 0.71.

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. PDD had a net margin of 29.05% and a return on equity of 46.08%. The firm had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter last year, the firm posted $1.27 EPS. The business’s quarterly revenue was up 85.7% on a year-over-year basis. Research analysts forecast that PDD will post 11.19 EPS for the current year.

Institutional Investors Weigh In On PDD

A number of large investors have recently bought and sold shares of PDD. Prospera Private Wealth LLC bought a new stake in shares of PDD during the third quarter worth $27,000. Venturi Wealth Management LLC acquired a new stake in PDD in the third quarter worth about $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD during the 2nd quarter worth about $32,000. Richardson Financial Services Inc. raised 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 purchasing an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in PDD during the 3rd quarter valued at about $34,000. 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.