PDD (NASDAQ:PDD) Upgraded to “Hold” at Zacks Research

PDD (NASDAQ:PDD) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Citigroup dropped their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $105.00 price objective on shares of PDD in a research report on Monday. BNP Paribas Exane initiated coverage on PDD in a report on Monday, June 15th. They set an “underperform” rating and a $89.00 price objective for the company. Sanford C. Bernstein cut their target price on shares of PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th. Finally, Barclays downgraded shares of PDD from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $165.00 to $89.00 in a research report on Thursday, May 28th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, PDD presently has an average rating of “Hold” and a consensus price target of $117.17.

PDD Trading Down 1.2%

PDD opened at $86.74 on Tuesday. The stock has a market capitalization of $123.47 billion, a PE ratio of 9.55, a PEG ratio of 0.71 and a beta of 0.02. PDD has a 1-year low of $71.94 and a 1-year high of $139.41. The firm has a 50-day moving average price of $84.84 and a two-hundred day moving average price of $93.24.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. The firm had revenue of $16.54 billion for the quarter. PDD had a return on equity of 23.00% and a net margin of 20.73%. On average, research analysts predict that PDD will post 9.7 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PDD. Advisory Services Network LLC raised its holdings in PDD by 0.7% during the 3rd quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock valued at $2,043,000 after acquiring an additional 102 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of PDD by 3.6% in the first quarter. Wealthfront Advisers LLC now owns 3,609 shares of the company’s stock worth $369,000 after acquiring an additional 127 shares during the period. NewEdge Advisors LLC grew its position in shares of PDD by 2.9% in the first quarter. NewEdge Advisors LLC now owns 4,677 shares of the company’s stock valued at $478,000 after purchasing an additional 134 shares in the last quarter. Focus Partners Wealth grew its position in shares of PDD by 1.0% in the fourth quarter. Focus Partners Wealth now owns 13,886 shares of the company’s stock valued at $1,512,000 after purchasing an additional 142 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of PDD by 4.3% during the 4th quarter. Fifth Third Bancorp now owns 3,649 shares of the company’s stock valued at $414,000 after purchasing an additional 151 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Company Profile

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.