PDD Holdings Inc. (NASDAQ:PDD) Given Average Rating of “Moderate Buy” by Analysts

Shares of PDD Holdings Inc. (NASDAQ:PDD) have been given an average rating of “Moderate Buy” by the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $173.40.

Several research analysts have commented on the company. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Nomura Securities raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Macquarie raised PDD from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $126.00 to $224.00 in a report on Monday, October 7th.

Institutional Investors Weigh In On PDD

A number of institutional investors have recently modified their holdings of the company. Oddo BHF Asset Management Sas acquired a new position in shares of PDD in the 3rd quarter valued at about $653,000. Tidal Investments LLC lifted its stake in PDD by 1,019.4% in the third quarter. Tidal Investments LLC now owns 71,173 shares of the company’s stock valued at $9,595,000 after buying an additional 64,815 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of PDD by 42.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,306 shares of the company’s stock worth $1,794,000 after buying an additional 3,943 shares in the last quarter. TT International Asset Management LTD bought a new position in shares of PDD during the 3rd quarter worth approximately $74,430,000. Finally, Geode Capital Management LLC grew its position in shares of PDD by 12.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock worth $627,104,000 after buying an additional 513,248 shares during the period. 29.07% of the stock is owned by institutional investors.

PDD Trading Down 0.5 %

Shares of PDD opened at $98.45 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD has a 52-week low of $88.01 and a 52-week high of $164.69. The firm has a market cap of $135.45 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.28 and a beta of 0.66. The business’s fifty day moving average is $122.87 and its 200-day moving average is $127.59.

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.