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

PDD Holdings Inc. (NASDAQ:PDD) has been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $169.91.

A number of equities research analysts have weighed in on the stock. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Jefferies Financial Group reduced their price target on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Nomura reissued a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st.

PDD Stock Performance

Shares of PDD stock opened at $90.50 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average price is $116.61 and its 200-day moving average price is $114.28. The stock has a market cap of $124.52 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. PDD has a 12 month low of $87.11 and a 12 month high of $164.69.

Institutional Investors Weigh In On PDD

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its position in PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after acquiring an additional 97 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares during the period. New York Life Investment Management LLC grew its stake in shares of PDD by 5.8% during the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after purchasing an additional 139 shares during the period. Cibc World Markets Corp increased its position in shares of PDD by 1.1% during the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after purchasing an additional 164 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after purchasing an additional 249 shares during the period. 39.83% of the stock is currently owned by hedge funds and other 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.