PDD (NASDAQ:PDD) Posts Quarterly Earnings Results, Beats Expectations By $17.59 EPS

PDD (NASDAQ:PDD - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $20.15 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $17.59, Briefing.com reports. The company had revenue of $110.61 billion during the quarter, compared to analyst estimates of $115.77 billion. PDD had a return on equity of 46.08% and a net margin of 29.05%. The firm's revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the company earned $17.32 earnings per share.

PDD Trading Down 2.2 %

PDD stock traded down $2.87 during trading hours on Tuesday, hitting $125.25. The company had a trading volume of 7,815,603 shares, compared to its average volume of 10,404,776. The firm has a market cap of $172.33 billion, a P/E ratio of 12.23, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a 50-day moving average price of $116.94 and a two-hundred day moving average price of $113.86. PDD has a 1 year low of $88.01 and a 1 year high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a report on Friday. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday. Benchmark reissued a "buy" rating and set a $160.00 price objective on shares of PDD in a research note on Friday. Jefferies Financial Group lowered their price objective on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Finally, Nomura restated a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, PDD has an average rating of "Moderate Buy" and a consensus price target of $169.91.

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About PDD

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.