PDD Holdings Inc. (NASDAQ:PDD) shares, rose in value on Thursday, May 25, with the stock price up by 0.25% to the previous day’s close as strong demand from buyers drove the stock to $61.09.
Actively observing the price movement in the recent trading, the stock is buoying the session at $60.94, falling within a range of $60.00 and $63.35. The value of beta (5-year monthly) is 0.73 whereas the PE ratio is 19.61 over 12-month period. Referring to stock’s 52-week performance, its high was $106.38, and the low was $37.53. On the whole, PDD has fluctuated by -6.23% over the past month.
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With the market capitalization of PDD Holdings Inc. currently standing at about $82.40 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 25, 2023 – May 29, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.54, which is expected to increase to $1.03 for fiscal year $3.94 and then to about $5.09 by fiscal year 2024. Data indicates that the EPS growth is expected to be 1.30% in 2024, while the next year’s EPS growth is forecast to be 29.20%.
Analysts have estimated the company’s revenue for the quarter at $4.53 billion, with a low estimate of $4.31 billion and a high estimate of $4.88 billion. According to the average forecast, sales growth in current quarter could jump up 37.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $23.61 billion, representing an increase of 26.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PDD’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0.48, with the price of PDD currently trading nearly -4.33% and -12.52% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.70, while the 7-day volatility ratio is showing 4.83% which for the 30-day chart, stands at 4.13%. Furthermore, PDD Holdings Inc. (PDD)’s beta value is 0.74, and its average true range (ATR) is 2.82. The company’s stock has been forecasted to trade at an average price of $725.97 over the course of the next 52 weeks, with a low of $516.93 and a high of $971.84. Based on these price targets, the low is -746.18% off current price, whereas the price has to move -1490.83% to reach the yearly target high. Additionally, analysts’ median price of $711.99 is likely to be welcomed by investors because it represents a decrease of -1065.48% from the current levels.
Data on historical trading for PDD Holdings Inc. (NASDAQ:PDD) indicates that the trading volumes over the past 10 days have averaged 8.61 million and over the past 3 months, they’ve averaged 9.25 million. According to company’s latest data on outstanding shares, there are 1.27 billion shares outstanding.
PDD Holdings Inc.’s shares belong to company insiders and institutional investors own 25.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 29.08 million shares as on Apr 27, 2023, resulting in a short ratio of 3.65. According to the data, the short interest in PDD Holdings Inc. (PDD) stood at 2.19% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 29.96 million. The stock has fallen by -25.09% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PDD stock heading into the next quarter.