PDD (NASDAQ:PDD – Get Free Report) was downgraded by equities research analysts at Arete Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $93.00 target price on the stock. Arete Research’s price target points to a potential upside of 16.61% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $105.00 price objective on shares of PDD in a research note on Monday, August 24th. BNP Paribas Exane started coverage on shares of PDD in a research note on Monday, June 15th. They issued an “underperform” rating and a $89.00 target price for the company. Morgan Stanley set a $129.00 target price on shares of PDD in a report on Wednesday, May 27th. Benchmark dropped their price target on shares of PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a research report on Tuesday, August 25th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of PDD in a research report on Wednesday, May 27th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PDD presently has a consensus rating of “Hold” and a consensus target price of $114.83.
PDD Stock Down 3.0%
PDD (NASDAQ:PDD – Get Free Report) last announced its earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%.The company had revenue of $16.54 billion for the quarter. As a group, research analysts anticipate that PDD will post 10.5 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Binnacle Investments Inc grew its stake in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Wexford Capital LP bought a new stake in shares of PDD during the 3rd quarter worth $44,000. Smartleaf Asset Management LLC raised its stake in shares of PDD by 230.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after purchasing an additional 263 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of PDD in the 4th quarter worth about $44,000. Finally, Larson Financial Group LLC boosted its holdings in shares of PDD by 720.4% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock worth $53,000 after buying an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.
About PDD
PDD Holdings Inc is a multinational commerce group that operates technology platforms connecting consumers, merchants, producers and suppliers. The company’s businesses focus on online retail, agricultural commerce and value-oriented shopping experiences, using interactive features, data and consumer demand to support transactions and product discovery.
Its flagship platform, Pinduoduo, serves consumers in China and offers a broad selection of products, including agricultural goods, groceries, household items, apparel, electronics and other consumer merchandise.
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