PDD (NASDAQ:PDD) Announces Earnings Results, Beats Expectations By $17.59 EPS

PDD (NASDAQ:PDD) posted its quarterly earnings data on Thursday. The company reported $20.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $17.59, Briefing.com reports. PDD had a net margin of 29.05% and a return on equity of 46.08%. The business had revenue of $110.61 billion for the quarter, compared to analysts’ expectations of $115.77 billion. During the same quarter in the previous year, the business posted $17.32 earnings per share. The business’s revenue was up 24.4% compared to the same quarter last year.

PDD Stock Performance

PDD stock traded down $6.99 during midday trading on Friday, hitting $123.93. 3,083,254 shares of the company were exchanged, compared to its average volume of 10,438,776. The business has a fifty day simple moving average of $115.12 and a two-hundred day simple moving average of $112.92. PDD has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm has a market capitalization of $170.51 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Analyst Ratings Changes

Several equities analysts recently commented on PDD shares. Nomura reiterated a “neutral” rating and set a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday. Jefferies Financial Group decreased their price target on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $160.00 price objective on shares of PDD in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, PDD presently has an average rating of “Moderate Buy” and a consensus target price of $168.09.

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.