Ecosystem Investments And Cost Discipline Will Shape Future E-Commerce Landscape

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

24 Nov 24

Updated

11 Dec 25

Views

697

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

11.3%

7D

1.4%

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1Y

11.3%

7D

1.4%

You can edit this narrative until Dec 12 9:10 AM. Then, changes will post as Updates.

Author's Valuation

US$146.2123.5% undervalued

AnalystConsensusTarget Fair Value

Shared on 11 Dec 25

Fair value Decreased 0.48%

PDD: Execution On Mature Domestic Platform Will Support Future Upside Potential

Analysts have slightly reduced their price target on PDD Holdings by $5 to $135, citing signs of a maturing domestic business and recent stagnation in user engagement metrics as reasons for a more measured growth outlook. Analyst Commentary Analysts are converging on a more balanced view of PDD Holdings, with the reduced price target framed as a recalibration to slower, but still positive, growth expectations rather than a structural bear call on the business.

Shared on 27 Nov 25

Fair value Increased 0.78%

PDD: Top-Line Expansion Will Offset Domestic User Engagement Concerns

Analysts have raised their price target for PDD Holdings from $145.77 to $146.91. This change reflects improved revenue growth projections, despite ongoing concerns about profit margins and the company's evolving business mix.

Shared on 11 Nov 25

Fair value Increased 0.45%

PDD: Merchant Support Initiatives And Global Expansion Will Drive Near-Term Earnings Volatility

The analyst price target for PDD Holdings increased modestly by $0.65 to $145.77 per share. Analysts cited balanced growth initiatives and sustained profitability following stronger-than-expected second quarter results.

Shared on 27 Oct 25

Fair value Increased 1.23%

The analyst price target for PDD Holdings has been raised from approximately $143.36 to $145.12. Analysts cite stronger-than-expected profitability and continued disciplined growth, though they also note ongoing market volatility and competitive pressures as considerations for future expectations.

Shared on 27 Aug 25

Fair value Increased 14%

Analysts raised PDD Holdings' price target from $125.60 to $140.27 following a Q2 earnings beat driven by strong profitability and competitive positioning despite ongoing margin pressures and concerns over the sustainability of these results amid regulatory and competitive uncertainties. Analyst Commentary Bullish analysts raised price targets following a Q2 earnings beat, citing better-than-expected profitability driven by cost discipline and competitive strength, with several seeing early signs of recovery amid challenging domestic and overseas conditions.

Shared on 01 May 25

Fair value Decreased 13%

Shared on 23 Apr 25

Fair value Decreased 6.08%

AnalystConsensusTarget has increased shares outstanding growth rate from 0.0% to 0.0%.

Shared on 17 Apr 25

Fair value Increased 0.50%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

Fair value Increased 0.02%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 02 Apr 25

Fair value Increased 3.15%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 26 Mar 25

Fair value Increased 18%

AnalystConsensusTarget has increased profit margin from 23.8% to 26.6% and decreased future PE multiple from 13.1x to 11.7x.

Shared on 19 Mar 25

Fair value Increased 0.86%

Shared on 12 Mar 25

Fair value Decreased 89%

AnalystConsensusTarget has decreased revenue growth from 18.2% to 13.3% and increased discount rate from 7.5% to 8.8%.

AnalystConsensusTarget Fair Value

US$146.21

23.5% undervalued

Future estimation in

Growth p.a.

Growth p.a.

%

Decrease

Increase

Current revenue growth rate

11.12%

General Merchandise and Department Stores revenue growth rate

0.41%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

8.95%

Calculation

CN¥147.78b

Earnings '28

x

12.11x

PE Ratio '28

=

CN¥1.79t

Market Cap '28

CN¥1.79t

Market Cap '28

/

1.34b

No. shares '28

=

CN¥1.34k

Share Price '28

CN¥1.34k Share Price '28

Discounted to 2025 @ 8.94% p.a.

=

CN¥1.03k

Fair Value '25

CN¥1.03k Fair Value '25

Converted to USD @ 0.1416 CNY/USD Exchange Rate

=

US$146.21

Fair Value '25