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Mode Mobile

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Rad Intel

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Kingscrowd

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Masterworks

Invest in multimillion dollar art by names like Banksy, Picasso, and Monet with shares

PDD Holdings Inc PDD reported weaker-than-expected revenue for i<a href="https://www.benzinga.com/quote/PDD/earnings">ts fiscal second quarter</a> on Monday.



The company posted revenue growth of 86% year-on-year to $13.36 billion (97.06 billion Chinese yuan), missing the analyst consensus estimate of $14.02 billion. The Chinese online retailer&#8217;s adjusted earnings per ADS of $3.20 (23.24 Chinese yuan) increased from 10.47 Chinese yuan Y/Y, beating the analyst consensus estimate of $2.73.



"While encouraged by the solid progress we made in the past few quarters, we see many challenges ahead," said Mr. Lei Chen, Chair and Co-CEO of PDD Holdings.



"In the past quarter, our revenue growth rate slowed quarter-on-quarter. Looking ahead, revenue growth will inevitably face pressure due to intensified competition and external challenges," said Ms. Jun Liu, VP of Finance of PDD Holdings.



PDD shares fell 28.5% to close at $100.00 on Monday.



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



<ul>
<li>Bernstein analyst Robin Zhu maintained PDD Holdings with an Outperform and lowered the price target from $235 to $170.</li>



<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/630dee9898361b0001447c13/joyce-ju">B of A Securities analyst Joyce Ju</a> maintained the stock with a Buy and slashed the price target from $206 to $170.</li>



<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5811d5db846faa00014d54d3/alicia-yap">Citigroup analyst Alicia Yap</a> downgraded PDD from Buy to Neutral and lowered the price target from $194 to $120.</li>
</ul>



Considering buying PDD stock? Here&#8217;s what analysts think:



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