PDD Holdings (PDD) soars 18% on solid Q4 financial performance

Pinduoduo Inc. (PDD) PT Lowered to $190 at JPMorgan

March 21, 2024 7:07 AM EDT

JPMorgan analyst Andre Chang lowered the price target on Pinduoduo Inc. (NASDAQ: PDD) to $190.00 (from $195.00) while maintaining a Overweight rating.

The analyst comments "PDDs share price moved up only 3.5% overnight (vs. the KWEBs 2% rise, despite being +16% at market opening) despite a... More

Pinduoduo Inc. (PDD) PT Raised to $220 at Benchmark

March 21, 2024 6:51 AM EDT

Benchmark analyst Fawne Jiang raised the price target on Pinduoduo Inc. (NASDAQ: PDD) to $220.00 (from $215.00) while maintaining a Buy rating.

The analyst comments "Despite elevated expectations into the Q, PDD reported yet another blowout quarter with both revenue and profit more... More

Pinduoduo Inc. (PDD) PT Raised to $155.40 at CMB International Securities, 'Still has potential to improve monetization'

March 21, 2024 4:17 AM EDT

CMB International Securities analyst Saiyi He raised the price target on Pinduoduo Inc. (NASDAQ: PDD) to $155.40 (from $142.60) while maintaining a Buy rating.

The analyst comments "PDD Holdings (PDD) announced (20 Mar) 4Q23 results: revenue was up 123% YoY (4Q22: 46%; 3Q23: 94%) to RMB88.9bn, 11% ahead of... More

Pinduoduo Inc. (PDD) PT Raised to $178 at Barclays

March 20, 2024 5:03 PM EDT

Barclays analyst Jiong Shao raised the price target on Pinduoduo Inc. (NASDAQ: PDD) to $178.00 (from $164.00) while maintaining a Overweight rating.

The analyst comments "4Q revenues and profits were way ahead of our and Street prior expectations. Despite strong growth both in China... More

Pinduoduo Inc. (PDD) PT Raised to $185 at Citi

March 20, 2024 4:10 PM EDT

Citi analyst Alicia Yap raised the price target on Pinduoduo Inc. (NASDAQ: PDD) to $185.00 (from $170.00) while maintaining a Buy rating.

The analyst comments "PDD concluded 2023 with another impressive 4Q with total revs/non-GAAP net profit +123%/+110% yoy to Rmb88.9bn/Rmb25.5bn, 11%/52% ahead of consensus... More

Pinduoduo Inc. (PDD) PT Raised to $161 at Jefferies

March 20, 2024 3:59 PM EDT

Jefferies analyst Thomas Chong raised the price target on Pinduoduo Inc. (NASDAQ: PDD) to $161.00 (from $157.00) while maintaining a Buy rating.

The analyst comments "PDD reported a beating set of 4Q results (link). During its conf. call, management highlighted its high quality strategies across... More

Morgan Stanley Still Likes Pinduoduo Inc. (PDD): 'Growth Momentum Remains Strong'

March 20, 2024 1:34 PM EDT

Morgan Stanley analyst Eddy Wang reiterated an Overweight rating and $181.00 price target on Pinduoduo Inc. (NASDAQ: PDD).

The analyst comments "PDD's strong 4Q23 results suggest sustainable GMV growth and take rate improvement at its domestic business, as well as strong momentum for... More

Temu operator PDD Holdings beats revenue estimates as year-end promotions boost sales

March 20, 2024 6:35 AM EDT

By Casey Hall and Jaspreet Singh

SHANGHAI (Reuters) - Low-cost e-commerce giant PDD Holdings beat Wall Street estimates for fourth-quarter revenue on Wednesday, driven by the robust growth of its global platform Temu and end-of-year sales festivals in China, including Singles Day.

U.S.-listed shares of the company, which is also parent to Chinese online discount retailer Pinduoduo, rose more than 9% in early trading.

PDD's revenue for the three months ended Dec. 31 was 88.88 billion yuan ($12.35 billion), topping the 79.23 billion expected by analysts, LSEG data showed.

The quarter's year-on-year revenue growth of 123% follows a 94% third-quarter... More