PDD (NASDAQ:PDD) Receives “Hold” Rating from Daiwa Securities Group

PDD (NASDAQ:PDD)‘s stock had its “hold” rating reiterated by Daiwa Securities Group in a report issued on Tuesday, Marketbeat reports. They presently have a $80.00 price objective on the stock. Daiwa Securities Group’s price target indicates a potential upside of 5.43% from the stock’s previous close.

A number of other research analysts also recently issued reports on PDD. Sanford C. Bernstein cut their price objective on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, May 27th. Nomura cut PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Friday, April 17th. Citigroup cut their target price on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PDD has an average rating of “Hold” and a consensus price target of $124.64.

PDD Stock Down 2.9%

PDD stock traded down $2.23 during trading hours on Tuesday, hitting $75.88. The stock had a trading volume of 3,754,548 shares, compared to its average volume of 8,493,682. The stock has a market capitalization of $108.00 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 0.63 and a beta of -0.01. PDD has a 12-month low of $75.71 and a 12-month high of $139.41. The stock’s 50-day moving average price is $92.84 and its 200-day moving average price is $101.80.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). PDD had a return on equity of 24.32% and a net margin of 21.86%.The company had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. During the same period last year, the firm posted $1.57 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts expect that PDD will post 9.92 EPS for the current fiscal year.

Institutional Investors Weigh In On PDD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its position in PDD by 45.4% during the 1st quarter. Parallel Advisors LLC now owns 4,523 shares of the company’s stock worth $462,000 after purchasing an additional 1,413 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in PDD by 2.9% during the first quarter. NewEdge Advisors LLC now owns 4,677 shares of the company’s stock worth $478,000 after buying an additional 134 shares in the last quarter. Oaktree Capital Management LP acquired a new stake in PDD in the first quarter valued at approximately $493,000. RBF Capital LLC purchased a new position in shares of PDD during the 1st quarter valued at approximately $2,044,000. Finally, H&H International Investment LLC raised its position in PDD by 71.2% during the first quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after acquiring an additional 8,211,600 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.