Benchmark Cuts PDD (NASDAQ:PDD) Price Target to $114.00

PDD (NASDAQ:PDD) had its price target trimmed by Benchmark from $127.00 to $114.00 in a research note published on Tuesday, MarketBeat reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on PDD. Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $165.00 to $89.00 in a report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $105.00 target price on shares of PDD in a research note on Monday. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. BNP Paribas Exane started coverage on PDD in a report on Monday, June 15th. They set an “underperform” rating and a $89.00 price objective on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $117.17.

PDD Stock Performance

PDD stock opened at $84.69 on Tuesday. The stock has a market capitalization of $120.55 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 0.71 and a beta of 0.02. The company has a fifty day moving average of $84.94 and a 200-day moving average of $93.09. PDD has a one year low of $71.94 and a one year high of $139.41.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. The business had revenue of $16.54 billion for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. Equities analysts forecast that PDD will post 9.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PDD

Several hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in PDD by 5,977.1% during the second quarter. California State Teachers Retirement System now owns 22,016,773 shares of the company’s stock worth $1,679,439,000 after purchasing an additional 21,654,483 shares during the last quarter. Norges Bank purchased a new stake in PDD during the fourth quarter worth $1,065,446,000. H&H International Investment LLC grew its holdings in PDD by 71.2% in the first quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock valued at $2,017,881,000 after purchasing an additional 8,211,600 shares during the last quarter. Himalaya Capital Management LLC acquired a new stake in PDD in the second quarter valued at $482,273,000. Finally, Dodge & Cox acquired a new stake in PDD in the fourth quarter valued at $503,429,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about PDD

Here are the key news stories impacting PDD this week:

• Positive Sentiment: Zacks Research upgraded PDD from “Strong Sell” to “Hold,” reducing the severity of its prior bearish view. However, the change still signals limited conviction in near-term upside. Ticker Report article
• Positive Sentiment: PDD beat quarterly earnings expectations, which provides some support for the stock and highlights continued profitability. The benefit was offset by weaker revenue performance and declining net income. MarketBeat earnings article
• Neutral Sentiment: Brokerages’ consensus rating remains “Hold,” indicating analysts see a relatively balanced risk-reward profile rather than a clear catalyst for a stronger rerating. American Banking News consensus rating article
• Neutral Sentiment: Benchmark lowered its expectations for PDD’s stock price, adding to evidence that analysts are becoming more cautious about the company’s growth trajectory. American Banking News Benchmark article
• Negative Sentiment: Quarterly revenue grew 8%, but GAAP net income fell 12%. Increased subsidies, artificial-intelligence spending and merchant investments are pressuring profitability, raising questions about whether the spending is generating enough incremental growth. Insider Monkey article
• Negative Sentiment: Analysts cited moderating online-marketing revenue, intensifying competition, regulatory risks and uncertainty around PDD’s shift toward a more asset-heavy model. Temu also faces higher costs and regulatory headwinds, while the company’s large supply-chain investment has an unclear return. Seeking Alpha analysis
• Negative Sentiment: PDD declined alongside Alibaba and other major Chinese e-commerce stocks in a broad sector selloff, suggesting macro and industry-wide pressure also contributed to the weakness. 24/7 Wall St. article

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.