JPMorgan Chase & Co. Increases PDD (NASDAQ:PDD) Price Target to $125.00

PDD (NASDAQ:PDD) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $105.00 to $125.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 1.55% from the company’s current price.

A number of other analysts have also weighed in on the stock. Nomura reiterated a “neutral” rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday. Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of PDD in a research report on Friday. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group lowered their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, PDD presently has a consensus rating of “Moderate Buy” and an average target price of $169.91.

PDD Stock Performance

PDD traded down $3.96 on Friday, reaching $126.96. 7,369,914 shares of the stock were exchanged, compared to its average volume of 10,452,557. The company’s 50-day moving average price is $115.12 and its 200 day moving average price is $112.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $174.68 billion, a PE ratio of 12.40, a PEG ratio of 0.32 and a beta of 0.69. PDD has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

PDD (NASDAQ:PDD) last released its earnings results on Thursday, March 20th. The company reported $20.15 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $17.59. PDD had a return on equity of 46.08% and a net margin of 29.05%. The firm had revenue of $110.61 billion during the quarter, compared to the consensus estimate of $115.77 billion. During the same quarter in the previous year, the company posted $17.32 earnings per share. The company’s revenue was up 24.4% compared to the same quarter last year. As a group, sell-side analysts forecast that PDD will post 10.24 EPS for the current fiscal year.

Institutional Trading of PDD

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp grew its stake in PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after acquiring an additional 97 shares during the period. Farther Finance Advisors LLC lifted its holdings in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares in the last quarter. New York Life Investment Management LLC grew its position in shares of PDD by 5.8% in the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after purchasing an additional 139 shares during the period. Cibc World Markets Corp increased its stake in shares of PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock worth $1,435,000 after purchasing an additional 164 shares in the last quarter. Finally, OneDigital Investment Advisors LLC raised its position in shares of PDD by 6.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after purchasing an additional 166 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other 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.