PDD Holdings Inc. (NASDAQ:PDD) Receives Consensus Rating of “Moderate Buy” from Brokerages

PDD Holdings Inc. (NASDAQ:PDD) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $146.85.

PDD has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. cut their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. The Goldman Sachs Group cut shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price for the company. in a research note on Monday, March 11th. Benchmark boosted their price objective on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Citigroup boosted their price objective on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st.

Hedge Funds Weigh In On PDD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. boosted its stake in PDD by 41.4% in the 4th quarter. Nomura Holdings Inc. now owns 680,792 shares of the company’s stock worth $99,607,000 after purchasing an additional 199,336 shares during the period. Quadrature Capital Ltd acquired a new position in PDD in the 4th quarter worth $20,991,000. Accent Capital Management LLC bought a new stake in PDD during the 4th quarter worth about $146,000. B. Riley Wealth Advisors Inc. bought a new stake in PDD during the 4th quarter worth about $530,000. Finally, Sivia Capital Partners LLC bought a new stake in PDD during the 4th quarter worth about $213,000. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Stock Down 0.8 %

NASDAQ PDD opened at $118.24 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $126.28 and its two-hundred day moving average is $124.08. The company has a market capitalization of $156.03 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 0.30 and a beta of 0.67. PDD has a 1-year low of $59.67 and a 1-year high of $152.99.

About PDD

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.