PDD (NASDAQ:PDD) Upgraded at Nomura Securities

Nomura Securities upgraded shares of PDD (NASDAQ:PDD) to a strong-buy rating in a research report report published on Tuesday morning, Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. The Goldman Sachs Group upgraded shares of PDD from a neutral rating to a buy rating and raised their target price for the stock from $145.00 to $184.00 in a research report on Friday, May 24th. Citigroup downgraded PDD from a buy rating to a neutral rating and decreased their price target for the stock from $194.00 to $120.00 in a report on Tuesday. Benchmark decreased their price target on PDD from $230.00 to $185.00 and set a buy rating for the company in a report on Tuesday. Jefferies Financial Group decreased their price target on PDD from $193.00 to $151.00 and set a buy rating for the company in a report on Monday. Finally, Barclays decreased their price target on PDD from $224.00 to $158.00 and set an overweight rating for the company in a report on Tuesday. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $167.27.

PDD Stock Performance

Shares of PDD opened at $93.42 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The firm has a market cap of $128.53 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.26 and a beta of 0.63. The company’s 50 day simple moving average is $134.24 and its 200-day simple moving average is $132.39. PDD has a 12-month low of $88.01 and a 12-month high of $164.69.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new stake in PDD during the 2nd quarter worth about $32,000. Richardson Financial Services Inc. increased its position in PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in PDD during the 1st quarter worth about $29,000. Mather Group LLC. increased its position in 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 purchasing an additional 354 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in PDD during the 4th quarter worth about $59,000. 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.