PDD (NASDAQ:PDD) Stock Price Down 0.2%

Shares of PDD Holdings Inc. (NASDAQ:PDD) fell 0.2% during mid-day trading on Tuesday . The stock traded as low as $146.85 and last traded at $148.11. 2,468,219 shares changed hands during trading, a decline of 72% from the average session volume of 8,941,017 shares. The stock had previously closed at $148.48.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PDD. JPMorgan Chase & Co. decreased their price objective on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Sanford C. Bernstein increased their target price on PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Bank of America increased their target price on PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Barclays increased their target price on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Finally, UBS Group increased their target price on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, PDD currently has an average rating of “Buy” and an average target price of $188.33.

PDD Stock Down 0.8 %

The firm has a 50-day simple moving average of $134.13 and a 200 day simple moving average of $134.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market capitalization of $202.69 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 0.26 and a beta of 0.64.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. On average, research analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

Hedge Funds Weigh In On PDD

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. boosted its stake in PDD by 2.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock valued at $491,000 after acquiring an additional 66 shares during the period. Johnson Investment Counsel Inc. boosted its stake in PDD by 2.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after acquiring an additional 78 shares during the period. Checchi Capital Advisers LLC raised its holdings in shares of PDD by 2.6% during the first quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after buying an additional 98 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after buying an additional 101 shares during the last quarter. Finally, PDS Planning Inc raised its holdings in shares of PDD by 5.2% during the fourth quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock valued at $341,000 after buying an additional 116 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

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.