PDD Holdings Analysts Boost Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
PDD Holdings Inc. (NASDAQ:PDD) reported Q4 fiscal 2023 earnings with a 123% year-on-year revenue growth to $12.52 billion, surpassing the consensus of $11.01 billion. Adjusted earnings per ADS were $2.40, beating the $1.60 consensus. The company holds $30.6 billion in cash and equivalents and generated $5.2 billion in operating cash flow. Online marketing services revenue rose by 57% Y/Y to $6.86 billion. Following the earnings announcement, Jefferies and Barclays raised their price targets for PDD Holdings.
March 21, 2024 | 12:19 pm
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PDD Holdings Inc. reported significant Q4 fiscal 2023 earnings growth, with revenue and adjusted earnings per ADS beating consensus estimates. The company's strong financial position is highlighted by its cash reserves and operating cash flow. Analysts from Jefferies and Barclays raised their price targets on PDD Holdings following the earnings announcement.
The positive earnings report, which exceeded expectations in both revenue and earnings per ADS, coupled with the company's strong financial position, has led to a positive reaction from analysts, as evidenced by the raised price targets from Jefferies and Barclays. This indicates a strong short-term bullish sentiment for PDD's stock.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100