PDD’s (PDD) Neutral Rating Reiterated at Nomura

PDD (NASDAQ:PDD)‘s stock had its “neutral” rating reaffirmed by Nomura in a report issued on Thursday, MarketBeat reports. They currently have a $130.00 price target on the stock, down from their previous price target of $137.00. Nomura’s price target suggests a potential upside of 2.65% from the stock’s current price.

Several other analysts also recently weighed in on the company. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Jefferies Financial Group dropped their price objective on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Benchmark dropped their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $169.91.

PDD Price Performance

Shares of PDD stock opened at $126.64 on Thursday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a market cap of $174.24 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.32 and a beta of 0.69. The business has a fifty day simple moving average of $115.75 and a 200 day simple moving average of $113.13.

Hedge Funds Weigh In On PDD

A number of hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its position in shares of PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after acquiring an additional 1,942,891 shares during the last quarter. Vanguard Group Inc. raised its position in shares of PDD by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock worth $2,779,986,000 after acquiring an additional 268,662 shares during the last quarter. FMR LLC raised its position in shares of PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after acquiring an additional 4,673,022 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after acquiring an additional 12,253,589 shares during the last quarter. Finally, Norges Bank bought a new position in shares of PDD during the fourth quarter worth about $812,246,000. 39.83% of the stock is currently owned by 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.