PDD (NASDAQ:PDD) Price Target Raised to $125.00 at JPMorgan Chase & Co.

PDD (NASDAQ:PDD) had its target price hoisted by JPMorgan Chase & Co. from $105.00 to $125.00 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

PDD has been the topic of several other research reports. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Nomura restated a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday. 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 report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of PDD in a research report on Friday. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Trading Down 3.3 %

NASDAQ PDD opened at $126.64 on Friday. PDD has a one year low of $88.01 and a one year high of $164.69. The company’s 50 day moving average price is $115.75 and its 200 day moving average price is $113.38. 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 price-to-earnings ratio of 12.37, a PEG ratio of 0.32 and a beta of 0.69.

Institutional Investors Weigh In On PDD

A number of hedge funds and other institutional investors have recently modified their holdings of PDD. Prospera Private Wealth LLC bought a new stake in shares of PDD during the third quarter valued at about $27,000. Nisa Investment Advisors LLC bought a new stake in shares of PDD during the fourth quarter valued at about $39,000. Brooklyn Investment Group raised its stake in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares in the last quarter. 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.