Jefferies Financial Group Has Lowered Expectations for PDD (NASDAQ:PDD) Stock Price

PDD (NASDAQ:PDD) had its price target lowered by equities researchers at Jefferies Financial Group from $171.00 to $156.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 23.18% from the stock’s previous close.

Several other equities research analysts also recently issued reports on PDD. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Benchmark cut their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, PDD currently has an average rating of “Moderate Buy” and an average target price of $169.91.

PDD Price Performance

Shares of PDD opened at $126.64 on Thursday. 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 firm has a market capitalization of $174.24 billion, a PE ratio of 12.37, a P/E/G ratio of 0.32 and a beta of 0.69. The stock has a 50 day simple moving average of $115.75 and a 200 day simple moving average of $113.13. PDD has a 52-week low of $88.01 and a 52-week high of $164.69.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. grew its holdings in PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares during the period. Vanguard Group Inc. lifted its holdings in PDD by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock valued at $2,779,986,000 after purchasing an additional 268,662 shares during the last quarter. FMR LLC boosted its position in PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after purchasing an additional 4,673,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares during the period. Finally, Norges Bank bought a new position in shares of PDD in the fourth quarter valued at about $812,246,000. 39.83% of the stock is currently owned by institutional investors.

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.