PDD Holdings Inc. (NASDAQ:PDD) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of PDD Holdings Inc. (NASDAQ:PDD) have been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat.com reports. Three equities research 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. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $173.40.

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark cut their target price on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Finally, Jefferies Financial Group cut their price objective on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st.

PDD Trading Down 1.0 %

Shares of NASDAQ PDD opened at $103.08 on Thursday. The stock has a market capitalization of $141.82 billion, a P/E ratio of 10.07, a PEG ratio of 0.27 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The business’s 50 day moving average is $101.95 and its two-hundred day moving average is $116.63. PDD has a 1-year low of $88.01 and a 1-year high of $164.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PDD. Prospera Private Wealth LLC bought a new stake in PDD during the third quarter valued at about $27,000. Venturi Wealth Management LLC bought a new position in shares of PDD during the 3rd quarter worth approximately $29,000. Future Financial Wealth Managment LLC acquired a new stake in PDD in the third quarter valued at approximately $34,000. Nisa Investment Advisors LLC purchased a new position in PDD in the fourth quarter worth $39,000. Finally, Brooklyn Investment Group increased its position in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares in the last quarter. 39.83% of the stock is currently 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.