PDD (NASDAQ:PDD) Given New $230.00 Price Target at Benchmark

PDD (NASDAQ:PDDGet Free Report) had its target price boosted by equities research analysts at Benchmark from $220.00 to $230.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target indicates a potential upside of 47.47% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. The Goldman Sachs Group cut shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target for the company. in a research report on Monday, March 11th. Sanford C. Bernstein upped their target price on shares of PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup increased their price target on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Bank of America increased their price target on shares of PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Barclays increased their price target on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Check Out Our Latest Report on PDD

PDD Stock Up 6.0 %

Shares of NASDAQ:PDD traded up $8.87 during trading on Thursday, hitting $155.96. The company’s stock had a trading volume of 12,416,210 shares, compared to its average volume of 8,782,279. The business has a 50 day moving average price of $127.04 and a two-hundred day moving average price of $130.83. The company has a market capitalization of $214.58 billion, a PE ratio of 27.73, a P/E/G ratio of 0.38 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.93 and a current ratio of 1.93. PDD has a fifty-two week low of $59.98 and a fifty-two week high of $160.00.

PDD (NASDAQ:PDDGet Free Report) last issued its earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. The firm had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. As a group, research analysts expect that PDD will post 7.85 EPS for the current fiscal year.

Hedge Funds Weigh In On PDD

A number of hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of PDD by 2.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock valued at $491,000 after purchasing an additional 66 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of PDD by 2.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after acquiring an additional 78 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of PDD by 2.6% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after acquiring an additional 98 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after acquiring an additional 101 shares in the last quarter. Finally, PDS Planning Inc lifted its holdings in shares of PDD by 5.2% during the 4th quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock valued at $341,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

About PDD

(Get Free Report)

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.

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Analyst Recommendations for PDD (NASDAQ:PDD)

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