PDD (NASDAQ:PDD) Rating Increased to Strong-Buy at Daiwa America

PDD (NASDAQ:PDD) was upgraded by equities research analysts at Daiwa America to a “strong-buy” rating in a research report issued on Tuesday, Zacks.com reports.

PDD has been the topic of a number of other research reports. Benchmark decreased their target price on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $194.00 to $120.00 in a report on Tuesday. UBS Group upped their price target on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Macquarie cut PDD from an “outperform” rating to a “neutral” rating in a report on Monday. Finally, The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $184.00 in a report on Friday, May 24th. Two investment 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 company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $167.27.

PDD Stock Performance

Shares of NASDAQ PDD opened at $93.42 on Tuesday. The stock has a market cap of $128.53 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.26 and a beta of 0.63. PDD has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a 50 day simple moving average of $134.24 and a two-hundred day simple moving average of $132.39. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 45.04% and a net margin of 26.93%. The business had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same quarter last year, the business posted $1.27 EPS. The company’s revenue was up 85.7% on a year-over-year basis. As a group, analysts predict that PDD will post 11.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PDD. Future Financial Wealth Managment LLC purchased a new position in shares of PDD in the 1st quarter valued at about $29,000. Ashton Thomas Private Wealth LLC acquired a new position in PDD in the second quarter valued at approximately $32,000. Richardson Financial Services Inc. increased its stake in PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after purchasing an additional 233 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in PDD during the second quarter worth approximately $40,000. Finally, Mather Group LLC. lifted its position in shares of PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after buying an additional 354 shares during the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

PDD Company Profile

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.