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PDD Holdings Inc. (PDD) Advances While Market Declines: Some Information for Investors
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PDD Holdings Inc. (PDD - Free Report) ended the recent trading session at $123.20, demonstrating a +0.69% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.3%.
Coming into today, shares of the company had lost 7.31% in the past month. In that same time, the Retail-Wholesale sector gained 5.15%, while the S&P 500 gained 4.42%.
The upcoming earnings release of PDD Holdings Inc. will be of great interest to investors. The company's earnings report is expected on March 20, 2024. The company is predicted to post an EPS of $1.62, indicating a 33.88% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $11.99 billion, indicating a 107.61% growth compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for PDD Holdings Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. PDD Holdings Inc. is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, PDD Holdings Inc. is holding a Forward P/E ratio of 17.05. This signifies a discount in comparison to the average Forward P/E of 20.41 for its industry.
It's also important to note that PDD currently trades at a PEG ratio of 0.37. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PDD's industry had an average PEG ratio of 0.6 as of yesterday's close.
The Internet - Commerce industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 62, positioning it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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PDD Holdings Inc. (PDD) Advances While Market Declines: Some Information for Investors
PDD Holdings Inc. (PDD - Free Report) ended the recent trading session at $123.20, demonstrating a +0.69% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.3%.
Coming into today, shares of the company had lost 7.31% in the past month. In that same time, the Retail-Wholesale sector gained 5.15%, while the S&P 500 gained 4.42%.
The upcoming earnings release of PDD Holdings Inc. will be of great interest to investors. The company's earnings report is expected on March 20, 2024. The company is predicted to post an EPS of $1.62, indicating a 33.88% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $11.99 billion, indicating a 107.61% growth compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for PDD Holdings Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. PDD Holdings Inc. is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, PDD Holdings Inc. is holding a Forward P/E ratio of 17.05. This signifies a discount in comparison to the average Forward P/E of 20.41 for its industry.
It's also important to note that PDD currently trades at a PEG ratio of 0.37. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PDD's industry had an average PEG ratio of 0.6 as of yesterday's close.
The Internet - Commerce industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 62, positioning it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.