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

PDD (NASDAQ:PDD) was downgraded by investment analysts at Dbs Bank from a “strong-buy” rating to a “hold” rating in a report released on Friday,Zacks.com reports.

PDD has been the topic of several other research reports. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $105.00 in a research note on Friday. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Sanford C. Bernstein dropped their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 27th. Bank of America decreased their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Barclays decreased their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Trading Up 0.6 %

Shares of PDD opened at $100.69 on Friday. PDD has a 1-year low of $88.01 and a 1-year high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $123.31 and its 200-day moving average price is $129.39. The firm has a market capitalization of $138.54 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 0.24 and a beta of 0.71.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a net margin of 29.05% and a return on equity of 46.08%. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. PDD’s quarterly revenue was up 85.7% on a year-over-year basis. Sell-side analysts anticipate that PDD will post 11.19 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PDD. Prospera Private Wealth LLC purchased a new stake in PDD during the third quarter valued at approximately $27,000. Venturi Wealth Management LLC bought a new position in shares of PDD in the third quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD in the second quarter worth approximately $32,000. Richardson Financial Services Inc. boosted its position in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of PDD in the third quarter worth approximately $34,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

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.