Brokerages Set PDD Holdings Inc. (NASDAQ:PDD) Target Price at $171.90

Shares of PDD Holdings Inc. (NASDAQ:PDD) have been given an average rating of “Moderate Buy” by the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $169.91.

A number of research firms have issued reports on PDD. JPMorgan Chase & Co. lifted their price objective on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday. Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of PDD in a research note on Friday. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday. Jefferies Financial Group decreased their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Finally, Nomura reiterated a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th.

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Prospera Private Wealth LLC bought a new position in shares of PDD in the third quarter worth about $27,000. Nisa Investment Advisors LLC bought a new position in PDD in the 4th quarter worth about $39,000. Brooklyn Investment Group increased its position in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after acquiring an additional 405 shares during the period. Global Retirement Partners LLC raised its stake in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after acquiring an additional 498 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of PDD by 30.9% in the fourth 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. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Up 1.2 %

Shares of PDD stock opened at $128.12 on Thursday. PDD has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $116.40 and a 200-day moving average price of $113.63. The firm has a market cap of $176.28 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.32 and a beta of 0.69.

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.