PDD’s (PDD) Buy Rating Reiterated at Benchmark

PDD (NASDAQ:PDD)‘s stock had its “buy” rating restated by research analysts at Benchmark in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $160.00 price target on the stock. Benchmark’s target price points to a potential upside of 28.30% from the company’s current price.

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

PDD Stock Down 4.7 %

PDD opened at $124.71 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. The business has a 50 day simple moving average of $115.12 and a 200-day simple moving average of $112.92. The stock has a market capitalization of $171.59 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.32 and a beta of 0.69. PDD has a 12 month low of $88.01 and a 12 month high of $164.69.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Thursday, March 20th. The company reported $20.15 earnings per share for the quarter, beating the consensus estimate 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 period last year, the business posted $17.32 EPS. PDD’s quarterly revenue was up 24.4% on a year-over-year basis. On average, equities analysts anticipate that PDD will post 10.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in PDD by 1,374.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after acquiring an additional 12,253,589 shares during the last quarter. Norges Bank acquired a new position in PDD in the fourth quarter valued at $812,246,000. Sanders Capital LLC acquired a new position in shares of PDD during the fourth quarter worth about $499,972,000. FMR LLC lifted its stake in shares of PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after purchasing an additional 4,673,022 shares in the last quarter. Finally, H&H International Investment LLC lifted its stake in shares of PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after purchasing an additional 3,804,600 shares in the last quarter. Institutional investors and hedge funds own 39.83% 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.