PDD’s (PDD) Neutral Rating Reiterated at Nomura

Nomura restated their neutral rating on shares of PDD (NASDAQ:PDD) in a report issued on Thursday morning, Marketbeat reports. They currently have a $130.00 price objective on the stock, down from their previous price objective of $137.00.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Jefferies Financial Group cut their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday. Benchmark reduced their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PDD presently has an average rating of “Moderate Buy” and an average price target of $169.91.

PDD Price Performance

PDD stock opened at $126.64 on Thursday. PDD has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market cap of $174.24 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The business has a fifty day moving average of $115.75 and a two-hundred day moving average of $113.24.

Institutional Trading of PDD

Hedge funds and other institutional investors have recently bought and sold shares of the company. OneDigital Investment Advisors LLC increased its position in PDD by 6.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after purchasing an additional 166 shares during the last quarter. Prospera Financial Services Inc raised its holdings in shares of PDD by 27.1% during the 3rd quarter. Prospera Financial Services Inc now owns 4,842 shares of the company’s stock valued at $653,000 after buying an additional 1,033 shares during the period. Avior Wealth Management LLC raised its stake in shares of PDD by 50.9% during the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after purchasing an additional 169 shares during the period. Prospera Private Wealth LLC purchased a new stake in PDD during the 3rd quarter worth $27,000. Finally, Advisors Asset Management Inc. grew its stake in shares of PDD by 39.9% during the third quarter. Advisors Asset Management Inc. now owns 4,148 shares of the company’s stock valued at $559,000 after acquiring an additional 1,184 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other 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.