PDD Holdings Inc. (NASDAQ:PDD – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $173.40.
Several research firms recently issued reports on PDD. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $126.00 to $224.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Jefferies Financial Group dropped their price objective on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, Benchmark dropped 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.
View Our Latest Analysis on PDD
PDD Stock Down 0.4 %
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in PDD during the 3rd quarter worth $27,000. Venturi Wealth Management LLC bought a new position in shares of PDD in the 3rd quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new position in shares of PDD in the 3rd quarter worth about $34,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD in the 4th quarter valued at about $39,000. Finally, Brooklyn Investment Group grew its stake in shares of PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after buying an additional 405 shares during the period. 39.83% of the stock is currently owned by institutional investors.
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.
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