PDD (NASDAQ:PDD) Price Target Raised to $190.00 at Benchmark
PDD (NASDAQ:PDD – Get Free Report) had its price target increased by equities research analysts at Benchmark from $140.00 to $190.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 35.07% from the company’s current price.
Other equities research analysts have also recently issued reports about the company. HSBC increased their price objective on PDD from $107.00 to $126.00 in a research report on Wednesday, August 30th. Citigroup raised their target price on PDD from $110.00 to $125.00 in a research report on Tuesday, August 29th. The Goldman Sachs Group raised their target price on PDD from $137.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. Sanford C. Bernstein raised their target price on PDD from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 30th. Finally, Bank of America raised their target price on PDD from $97.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $125.82.
Read Our Latest Research Report on PDD
PDD Stock Up 1.2 %
NASDAQ:PDD traded up $1.67 during mid-day trading on Wednesday, reaching $140.67. The stock had a trading volume of 6,904,996 shares, compared to its average volume of 9,133,378. The business’s 50 day moving average is $106.57 and its 200 day moving average is $88.92. PDD has a fifty-two week low of $59.67 and a fifty-two week high of $144.87. The stock has a market cap of $185.63 billion, a P/E ratio of 34.91, a PEG ratio of 1.17 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.91 and a quick ratio of 1.91.
PDD (NASDAQ:PDD – Get Free Report) last announced its quarterly earnings results on Tuesday, November 28th. The company reported $11.61 EPS for the quarter, beating the consensus estimate of $8.94 by $2.67. PDD had a return on equity of 33.87% and a net margin of 24.93%. The company had revenue of $68.84 billion for the quarter, compared to the consensus estimate of $55.18 billion. During the same quarter last year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 93.9% compared to the same quarter last year. As a group, sell-side analysts predict that PDD will post 3.92 earnings per share for the current year.
Institutional Trading of PDD
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in shares of PDD by 108.5% during the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after buying an additional 331 shares during the period. SRS Capital Advisors Inc. grew its position 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 buying an additional 209 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of PDD during the 4th quarter worth about $43,000. Psagot Value Holdings Ltd. Israel acquired a new position in shares of PDD during the 1st quarter worth about $53,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in shares of PDD during the 3rd quarter worth about $55,000. 31.08% of the stock is currently owned by institutional investors and hedge funds.
PDD Company Profile (Get Free Report)
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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Original: MarketBeat News Feed: PDD (NASDAQ:PDD) Price Target Raised to $190.00 at Benchmark