Bank of America Securities Maintained a Hold Rating on PDD Holdings (PDD)

PDD Holdings Inc. (NASDAQ:PDD) is one of the Undervalued Cyclical Stocks to Buy According to Hedge Funds. On June 27, Joyce Ju from Bank of America Securities maintained a Hold rating on PDD Holdings Inc. (NASDAQ:PDD) with a price target of $120.

The conservative outlook follows the company’s fiscal first-quarter results for 2025. The company posted mixed results for the quarter, with revenue growing 10.92% year-over-year but falling short of consensus by $1.05 billion. The EPS of $1.59 also missed estimates by $1.05. The profitability fell 38% year-over-year. Management noted that they made substantial investments to help merchants and consumers during a rapidly changing external environment, which led to a negative impact on short-term profitability.

Bank of America Securities Maintained a Hold Rating on PDD Holdings (PDD)

A close-up of a customer using the company’s e-commerce platform whilst shopping online.

PDD Holdings Inc. operates a range of digital commerce businesses that connect buyers, merchants, and manufacturers globally. The company’s platforms include Pinduoduo and Temu, which offer a wide variety of affordable products and engaging shopping experiences.

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This article is originally published at Insider Monkey.