JPMorgan Chase & Co. Issues Positive Forecast for PDD (NASDAQ:PDD) Stock Price

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

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group lowered their target price on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark reiterated a “buy” rating and issued a $160.00 price objective on shares of PDD in a research note on Friday. Finally, Nomura reiterated a “neutral” rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday. 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 company’s stock. According to data from MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Stock Performance

Shares of PDD stock opened at $126.64 on Friday. The business has a 50-day moving average of $115.75 and a 200 day moving average of $113.13. PDD has a 12 month low of $88.01 and a 12 month high of $164.69. The stock has a market capitalization 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 company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Institutional Investors Weigh In On PDD

Several hedge funds and other institutional investors have recently made changes to their positions in PDD. Prospera Private Wealth LLC acquired a new stake in shares of PDD during the 3rd quarter worth about $27,000. Nisa Investment Advisors LLC acquired a new position in PDD during the fourth quarter worth approximately $39,000. Brooklyn Investment Group increased its position in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares during the period. Global Retirement Partners LLC increased its position in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares during the period. Finally, Farther Finance Advisors LLC increased its position in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after buying an additional 132 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.