PDD (NASDAQ:PDD) Downgraded to Hold Rating by Dbs Bank

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

PDD has been the subject of several other reports. Daiwa America raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Barclays dropped their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Citigroup lowered PDD from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Jefferies Financial Group decreased their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and cut their price target for the company from $170.00 to $105.00 in a report on Friday. Three 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Price Performance

Shares of PDD stock opened at $100.69 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD has a one year low of $88.01 and a one year high of $164.69. The business’s 50 day simple moving average is $123.31 and its two-hundred day simple moving average is $129.39. The stock has a market capitalization 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 issued 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 the consensus estimate of $100.17 billion. PDD had a net margin of 29.05% and a return on equity of 46.08%. The firm’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.27 earnings per share. Analysts forecast that PDD will post 11.19 EPS for the current year.

Institutional Investors Weigh In On PDD

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TB Alternative Assets Ltd. increased its holdings in shares of PDD by 33.7% during the third quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock valued at $23,342,000 after acquiring an additional 43,648 shares in the last quarter. Vontobel Holding Ltd. increased its stake in PDD by 13.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock valued at $31,589,000 after purchasing an additional 27,567 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in PDD by 63.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after purchasing an additional 89,853 shares in the last quarter. BOCHK Asset Management Ltd raised its holdings in PDD by 3,391.7% in the third quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock worth $5,649,000 after buying an additional 40,700 shares during the last quarter. Finally, M&G PLC lifted its stake in shares of PDD by 14.2% in the third quarter. M&G PLC now owns 247,417 shares of the company’s stock worth $33,401,000 after buying an additional 30,817 shares in the last quarter. Hedge funds and other institutional investors 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.