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

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

Several research firms have recently weighed in on PDD. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Jefferies Financial Group lowered their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Benchmark lowered their price objective on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, Macquarie raised PDD from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $126.00 to $224.00 in a research note on Monday, October 7th.

PDD Stock Down 1.4 %

NASDAQ PDD opened at $97.45 on Friday. The business has a fifty day moving average price of $109.65 and a 200 day moving average price of $121.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market cap of $134.08 billion, a P/E ratio of 9.52, a P/E/G ratio of 0.29 and a beta of 0.66. PDD has a one year low of $88.01 and a one year high of $164.69.

Institutional Trading of PDD

Several institutional investors have recently added to or reduced their stakes in PDD. Prime Capital Investment Advisors LLC lifted its stake in PDD by 5.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock worth $244,000 after acquiring an additional 89 shares during the last quarter. Ballentine Partners LLC boosted its stake in PDD by 4.6% in the second quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock valued at $359,000 after acquiring an additional 120 shares in the last quarter. Parallel Advisors LLC increased its position in shares of PDD by 5.3% during the second quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after purchasing an additional 122 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of PDD by 6.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $354,000 after purchasing an additional 166 shares during the last quarter. Finally, CWM LLC boosted its position in shares of PDD by 19.3% in the 3rd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $141,000 after purchasing an additional 169 shares during the period. Institutional investors and hedge funds own 39.83% 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.