In the last trading session, 5.77 million PDD Holdings Inc. (NASDAQ:PDD) shares changed hands as the company’s beta touched 0.78. With the company’s per share price at $99.81 changed hands at $0.35 or 0.35% during last session, the market valuation stood at $131.19B. PDD’s last price was a discount, traded about -6.58% off its 52-week high of $106.38. The share price had its 52-week low at $38.80, which suggests the last value was 61.13% up since then. When we look at PDD Holdings Inc.’s average trading volume, we note the 10-day average is 10.35 million shares, with the 3-month average coming to 10.05 million.
Analysts gave the PDD Holdings Inc. (PDD) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.60. If we narrow down to specifics, the data shows that 0 out of 45 analysts rate the stock as a Sell, with a further 6 assigning it an Overweight rating. Of the remaining, 3 recommended PDD as a Hold, 36 felt it is a Buy and 0 rated the stock as Underweight. PDD Holdings Inc.’s EPS for the current quarter is expected to be $1.2.
PDD Holdings Inc. (NASDAQ:PDD) trade information
Instantly PDD was in green as seen at the end of in last trading. With action 2.47%, the performance over the past five days has been green. The jump to weekly highs of 100.40 on Monday, 09/18/23 added 0.35% to the stock’s daily price. The company’s shares are showing year-to-date upside of 22.39%, with the 5-day performance at 2.47% in the green. However, in the 30-day time frame, PDD Holdings Inc. (NASDAQ:PDD) is 25.29% up. Looking at the short shares, we see there were 29.7 million shares sold at short interest cover period of 2.81 days.
The consensus price target for the stock as assigned by Wall Street analysts is $862.12, meaning bulls need an upside of 88.42% from its current market value. According to analyst projections, PDD’s forecast low is $576.04 with $1159.38 as the target high. To hit the forecast high, the stock’s price needs a -1061.59% plunge from its current level, while the stock would need to soar -477.14% for it to hit the projected low.
PDD Holdings Inc. (PDD) estimates and forecasts
Data shows that the PDD Holdings Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 8.56% over the past 6 months, a 23.87% in annual growth rate that is considerably higher than the industry average of 22.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for PDD Holdings Inc. will fall -5.50%, while the growth in revenue is estimated to hit 5.00% for the next quarter. Year-over-year growth is forecast to reach 51.20% up from the last financial year.
Consensus estimates given by 17 financial analysts project the company’s revenue in the current quarter to hit an average of $7.34 billion. 15 analysts are of the opinion that PDD Holdings Inc.’s revenue for the quarter ending Dec 2023 will be $8.74 billion. The company’s revenue for the corresponding quarters a year ago was $5.23 billion and $5.68 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 40.40%. The estimates for the next quarter sales put growth at 53.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 119.20%. The 2023 estimates are for PDD Holdings Inc. earnings to increase by 302.60%, but the outlook for the next 5-year period is at 22.47% per year.
PDD Holdings Inc. is expected to release its next quarterly earnings report between November 27 and December 01.
PDD Holdings Inc. (NASDAQ:PDD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.00% of PDD Holdings Inc. shares while 28.74% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 28.74%. There are 28.74% institutions holding the PDD Holdings Inc. stock share, with Baillie Gifford and Company the top institutional holder. As of Jun 29, 2023, the company held 2.28% of the shares, roughly 31.17 million PDD shares worth $3.11 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 1.76% or 24.14 million shares worth $2.41 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were Invesco ETF Tr-Invesco QQQ Tr, Series 1 ETF and Vanguard International Stock Index-Emerging Markets Stk. With 10.35 million shares estimated at $1.03 billion under it, the former controlled 0.76% of total outstanding shares. On the other hand, Vanguard International Stock Index-Emerging Markets Stk held about 0.44% of the shares, roughly 6.05 million shares worth around $604.03 million.