PDD (NASDAQ:PDD) Given “Buy” Rating at Benchmark

PDD (NASDAQ:PDD)‘s stock had its “buy” rating reaffirmed by equities research analysts at Benchmark in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $160.00 target price on the stock. Benchmark’s target price would suggest a potential upside of 26.34% from the stock’s current price.

PDD has been the subject of a number of other research reports. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Jefferies Financial Group dropped their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Finally, Nomura reiterated a “neutral” rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Trading Down 3.3 %

NASDAQ:PDD opened at $126.64 on Friday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a market cap of $174.24 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a 50 day simple moving average of $115.75 and a two-hundred day simple moving average of $113.24.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd lifted its stake in PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock worth $942,000 after purchasing an additional 6,460 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock worth $5,155,000 after purchasing an additional 14,905 shares in the last quarter. Maple Rock Capital Partners Inc. purchased a new stake in PDD in the 3rd quarter worth $74,221,000. Headwater Capital Co Ltd purchased a new stake in PDD in the 4th quarter worth $9,699,000. Finally, Baillie Gifford & Co. lifted its stake in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

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.