Daiwa Securities Group Reiterates “Hold” Rating for PDD (NASDAQ:PDD)

PDD (NASDAQ:PDD)‘s stock had its “hold” rating restated by analysts at Daiwa Securities Group in a research report issued on Tuesday, MarketBeat.com 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.

PDD has been the topic of several other reports. Jefferies Financial Group reissued a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Benchmark reduced their target price on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Barclays lowered shares of PDD from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. Finally, Morgan Stanley set a $129.00 target price on shares of PDD in a report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PDD presently has a consensus rating of “Hold” and an average price target of $124.64.

PDD Trading Down 2.9%

PDD traded down $2.23 on Tuesday, reaching $75.88. The stock had a trading volume of 3,754,548 shares, compared to its average volume of 8,493,682. The company has a market capitalization of $108.00 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 0.63 and a beta of -0.01. PDD has a fifty-two week low of $75.71 and a fifty-two week high of $139.41. The firm has a 50-day moving average of $92.84 and a 200-day moving average of $101.80.

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

Hedge Funds Weigh In On PDD

Several institutional investors have recently bought and sold shares of PDD. Binnacle Investments Inc boosted its holdings in shares of PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC boosted its holdings in PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after acquiring an additional 238 shares during the period. Wexford Capital LP bought a new position in shares of PDD in the third quarter worth approximately $44,000. Smartleaf Asset Management LLC grew its stake in shares of PDD by 230.7% in the fourth 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of PDD during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

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.