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

Shares of PDD Holdings Inc. (NASDAQ:PDD) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $173.40.

Several equities analysts have weighed in on PDD shares. Bank of America lowered their target price on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Jefferies Financial Group decreased their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Finally, Nomura Securities raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th.

Institutional Investors Weigh In On PDD

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new stake in shares of PDD in the third quarter valued at about $27,000. Venturi Wealth Management LLC bought a new stake in PDD during the 3rd quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in PDD in the 2nd quarter valued at approximately $32,000. Richardson Financial Services Inc. increased its position in PDD by 3,883.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the third quarter worth approximately $34,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of PDD stock opened at $99.89 on Wednesday. The company has a market capitalization of $137.44 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 0.28 and a beta of 0.66. PDD has a 1-year low of $88.01 and a 1-year high of $164.69. 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 stock’s fifty day simple moving average is $121.25 and its 200-day simple moving average is $126.60.

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.