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

PDD (NASDAQ:PDD) issued its quarterly earnings results on Thursday. The company reported $20.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 29.05% and a return on equity of 46.08%. PDD’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the business posted $17.32 EPS.

PDD Price Performance

PDD stock traded down $6.99 during trading on Friday, reaching $123.93. The company’s stock had a trading volume of 3,083,254 shares, compared to its average volume of 10,438,776. PDD has a 1 year low of $88.01 and a 1 year high of $164.69. The company’s fifty day moving average is $115.12 and its 200-day moving average is $112.92. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $170.51 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of analyst reports. Jefferies Financial Group decreased their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday. Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of PDD in a research note on Friday. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Nomura reiterated a “neutral” rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday. Finally, Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $168.09.

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.