PDD Holdings Analysts Cut Their Forecasts After Q1 Earnings

PDD Holdings Inc. (NASDAQ:PDD) posted weaker-than-expected first-quarter results on Tuesday.

PDD Holdings posted first-quarter earnings of $1.56 per share, missing market estimates of $2.49 per share. The company’s sales came in at $13.18 billion versus expectations of $14.17 billion.

“In the first quarter, we made substantial investments in our platform ecosystem to support merchants and consumers amid rapid changes in the external environment,” said Mr. Lei Chen, Chairman and Co-Chief Executive Officer of PDD Holdings. “These investments weighed on short-term profitability but gave merchants the room to adapt and focus on high-quality, sustainable growth, strengthening the long-term health of the platform.”

Box shares gained 18.4% to trade at $36.75 on Wednesday.

These analysts made changes to their price targets on Box following earnings announcement.

• JP Morgan analyst Ellie Jiang maintained PDD Holdings with a Neutral and lowered the price target from $125 to $105.
• Benchmark analyst Fawne Jiang maintained the stock with a Buy and lowered the price target from $160 to $128.
• China Renaissance analyst Charlie Chan downgraded PDD from Buy to Hold and announced a $107 price target.

Considering buying PDD stock? Here’s what analysts think:

Read This Next:

• How To Earn $500 A Month From HP Stock Ahead Of Q2 Earnings

Photo via Shutterstock