Jefferies Financial Group Issues Pessimistic Forecast for PDD (NASDAQ:PDD) Stock Price

PDD (NASDAQ:PDD) had its price target decreased by Jefferies Financial Group from $171.00 to $156.00 in a research note issued to investors on Thursday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Benchmark lowered their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $169.91.

PDD Price Performance

PDD stock opened at $126.64 on Thursday. The business has a fifty day moving average of $115.75 and a two-hundred day moving average of $113.24. 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. PDD has a 52-week low of $88.01 and a 52-week high of $164.69.

Institutional Inflows and Outflows

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