PDD Holdings Inc. (NASDAQ:PDD – Get Free Report) saw an uptick in trading volume on Thursday . 10,299,986 shares were traded during trading, an increase of 23% from the previous session’s volume of 8,367,774 shares.The stock last traded at $135.81 and had previously closed at $124.49.
Analyst Ratings Changes
Several research firms have recently commented on PDD. Benchmark upped their price target on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Barclays increased their target price on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. reduced their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Jefferies Financial Group increased their target price on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Citigroup increased their price objective on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PDD has an average rating of “Moderate Buy” and an average price target of $146.85.
Get Our Latest Stock Analysis on PDD
PDD Trading Up 11.7 %
PDD (NASDAQ:PDD – Get Free Report) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The firm had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. On average, research analysts predict that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.
Institutional Trading of PDD
A number of hedge funds and other institutional investors have recently modified their holdings of PDD. SRS Capital Advisors Inc. grew its holdings in shares of PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of PDD during the 1st quarter worth $29,000. Turim 21 Investimentos Ltda. purchased a new position in shares of PDD during the 3rd quarter worth $55,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PDD during the 4th quarter worth $59,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after acquiring an additional 101 shares during the period. 29.07% of the stock is owned by institutional investors and hedge funds.
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.
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