JPMorgan Chase & Co. Issues Positive Forecast for PDD (NASDAQ:PDD) Stock Price

PDD (NASDAQ:PDD) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $105.00 to $125.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 1.30% from the stock’s previous close.

Several other equities analysts have also recently commented on PDD. Nomura reaffirmed a “neutral” rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday. Jefferies Financial Group reduced their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of PDD in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Stock Performance

NASDAQ:PDD opened at $126.64 on Friday. 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 firm has a 50-day moving average of $115.75 and a two-hundred day moving average of $113.24. The stock has a market cap of $174.24 billion, a P/E ratio of 12.37, a PEG ratio of 0.32 and a beta of 0.69. PDD has a 1-year low of $88.01 and a 1-year high of $164.69.

Institutional Investors Weigh In On PDD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in PDD during the third quarter worth approximately $27,000. Nisa Investment Advisors LLC bought a new stake in PDD during the fourth quarter worth approximately $39,000. Brooklyn Investment Group raised its holdings in 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. Global Retirement Partners LLC raised its holdings in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

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.