Citigroup Increases PDD (NASDAQ:PDD) Price Target to $198.00 (2024)

PDD (NASDAQ:PDD – Get Free Report) had its target price boosted by Citigroup from $185.00 to $198.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 25.66% from the stock’s previous close.

PDD has been the subject of a number of other reports. Barclays upped their price target on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Jefferies Financial Group upped their price target on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Benchmark upped their price objective on PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group upped their price objective on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Sanford C. Bernstein upped their price objective on PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $182.31.

Get Our Latest Analysis on PDD

PDD Stock Performance

Shares of NASDAQ:PDD opened at $157.57 on Thursday. The stock has a market capitalization of $216.80 billion, a P/E ratio of 20.87, a P/E/G ratio of 0.38 and a beta of 0.67. PDD has a 1-year low of $59.98 and a 1-year high of $164.69. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $128.33 and a two-hundred day moving average price of $131.34.

PDD (NASDAQ:PDD – Get Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.81. The firm had revenue of $12.52 billion during the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a return on equity of 48.69% and a net margin of 26.93%. Equities analysts predict that PDD will post 7.85 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. increased its position in 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. Future Financial Wealth Managment LLC bought a new position in PDD during the 1st quarter worth $29,000. Turim 21 Investimentos Ltda. bought a new position in PDD during the 3rd quarter worth $55,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PDD during the 4th quarter worth $59,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 29.07% of the company’s stock.

About PDD

(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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