The price of PDD Holdings Inc. (NASDAQ:PDD) shares last traded on Wall Street fell -1.46% to $98.35.
Based on available information, 45 analysts follow PDD Holdings Inc. (NASDAQ:PDD). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $1159.38 and a low of $576.04, we find $866.62. Given the previous closing price of $99.81, this indicates a potential upside of 768.27 percent. PDD stock price is now 14.72% away from the 50-day moving average and 20.52% away from the 200-day moving average. The market capitalization of the company currently stands at $129.27B.
Among analysts, 3 rate the stock a hold while 36 rate it a buy. Brokers who have rated the stock have averaged $862.05 as their price target over the next twelve months.
With the price target enhanced from $99 to $129, Goldman Upgraded its rating from Neutral to Buy for PDD Holdings Inc. (NASDAQ: PDD).
There have been several recent changes in the stakes of large investors in PDD stock. A new stake in PDD Holdings Inc. shares was purchased by DRAGONEER INVESTMENT GROUP, LLC during the first quarter worth $255,487,000. FIRST BEIJING INVESTMENT LTD invested $204,007,000 in shares of PDD during the first quarter. In the first quarter, NEWLANDS MANAGEMENT OPERATIONS LLC acquired a new stake in PDD Holdings Inc. valued at approximately $191,688,000. FULLERTON FUND MANAGEMENT CO LTD. acquired a new stake in PDD for approximately $109,958,000. APPALOOSA LP purchased a new stake in PDD valued at around $73,763,000 in the second quarter.
A candlestick chart of PDD Holdings Inc. (NASDAQ: PDD) showed a price of $98.62 on Tuesday morning. During the past 12 months, PDD Holdings Inc. has had a low of $38.80 and a high of $106.38. According to the stock market information, the enterprise value for the company is $108.51B, which is based on a 25.26 price-to-earnings ratio, a 1.12 price-to-earnings-growth ratio, and a beta of 0.78. The fifty day moving average price for PDD is $86.29 and a two-hundred day moving average price translates $81.69 for the stock.
The latest earnings results from PDD Holdings Inc. (NASDAQ: PDD) was released for Jun, 2023. The net profit margin was 19.10% and return on equity was 28.50% for PDD. The company reported revenue of $7.21 billion for the quarter, compared to $4.69 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 53.6 percent.
PDD Holdings Inc.(PDD) Company Profile
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. It focuses on bringing businesses and people into the digital economy. The company was formerly known as Pinduoduo Inc. and changed its name to PDD Holdings Inc. in February 2023. PDD Holdings Inc. was incorporated in 2015 and is based in Dublin, Ireland.