Temu Parent Company PDD Holdings Posts 2Q Miss, Analysts Say Long-Term Investments Hurt Short-Term Profitability

Shares of PDD Holdings Inc (NASDAQ:PDD) tanked in early trading on Friday, after the company reported downbeat fourth-quarter revenues.

The company, which owns Temu, reported its results amid an exciting earnings season. Here are some key analyst takeaways.

Benchmark analyst Fawne Jiang reiterated a Buy rating and price target of $160.

Goldman Sachs analyst Ronald Keung maintained a Buy rating and price target of $157.

Check out other analyst stock ratings.

Benchmark: PDD reported quarterly revenues of RMB 111 billion ($15.3 billion), up 24% year-on-year, missing consensus expectations by RMB 6 billion ($827 million), Jiang said in a note. Online marketing services grew 17% ...