Brokerages Set PDD Holdings Inc. (NASDAQ:PDD) Target Price at $173.40

Shares of PDD Holdings Inc. (NASDAQ:PDD) have been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $173.40.

A number of equities analysts have commented on PDD shares. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark dropped their price objective on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Bank of America reduced their target price on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th.

PDD Stock Performance

NASDAQ:PDD opened at $99.89 on Wednesday. PDD has a twelve month low of $88.01 and a twelve month high of $164.69. The firm has a market capitalization of $137.44 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.28 and a beta of 0.66. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm’s fifty day simple moving average is $121.25 and its 200 day simple moving average is $126.60.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cetera Investment Advisers acquired a new position in PDD in the first quarter worth approximately $3,987,000. EverSource Wealth Advisors LLC raised its position in shares of PDD by 63.7% during the first quarter. EverSource Wealth Advisors LLC now owns 699 shares of the company’s stock worth $88,000 after purchasing an additional 272 shares during the period. Mather Group LLC. lifted its holdings in shares of PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of PDD in the 2nd quarter valued at $1,103,000. Finally, Simplicity Wealth LLC increased its stake in PDD by 5.6% in the 2nd quarter. Simplicity Wealth LLC now owns 5,245 shares of the company’s stock worth $697,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 29.07% of the company’s stock.

PDD Company Profile

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.