PDD Holdings Gets Price Target Hikes By Analysts Following Better-Than-Expected Q1 Results
Portfolio Pulse from Lisa Levin
PDD Holdings Inc reported better-than-expected Q1 FY23 results with a 58% YoY revenue growth of $5.48 billion, beating the consensus of $4.53 billion. Non-GAAP earnings per ADS of $1.01 also beat the consensus of $0.54. Following the announcement, several analysts raised their price targets on PDD.
May 30, 2023 | 11:27 am
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PDD Holdings reported better-than-expected Q1 results, leading to price target hikes by Jefferies, Citigroup, B of A Securities, and JP Morgan.
PDD Holdings reported strong Q1 results, beating both revenue and earnings estimates. This positive news led to several analysts raising their price targets on the stock, which is likely to result in increased investor confidence and a short-term positive impact on the stock price.
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