PDD Holdings Inc. (NASDAQ:PDD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PDD Holdings Inc. (NASDAQ:PDD) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $171.90.

A number of equities research analysts recently weighed in on the stock. Benchmark lowered their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group lowered their target price 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. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Finally, Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PDD. Prospera Private Wealth LLC bought a new position in shares of PDD in the third quarter worth approximately $27,000. Nisa Investment Advisors LLC bought a new position in shares of PDD in the fourth quarter worth approximately $39,000. Avior Wealth Management LLC grew its holdings in shares of PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after purchasing an additional 169 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of PDD by 939.6% in 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 during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of PDD stock traded up $5.00 on Thursday, reaching $130.92. The stock had a trading volume of 33,201,636 shares, compared to its average volume of 10,603,476. The business’s 50 day moving average is $114.50 and its two-hundred day moving average is $112.79. The company has a market cap of $180.13 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD has a 1 year low of $88.01 and a 1 year high of $164.69.

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.