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

Shares of PDD Holdings Inc. (NASDAQ:PDD) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $173.40.

A number of research analysts have weighed in on PDD shares. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Benchmark reduced their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered 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 report on Friday, November 22nd. Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $126.00 to $224.00 in a research note on Monday, October 7th.

Institutional Trading of PDD

Hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC increased its holdings in shares of PDD by 63.9% in the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after purchasing an additional 14,905 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in PDD in the 3rd quarter valued at $653,000. Tidal Investments LLC increased its stake in shares of PDD by 1,019.4% in the 3rd quarter. Tidal Investments LLC now owns 71,173 shares of the company’s stock worth $9,595,000 after acquiring an additional 64,815 shares during the last quarter. Sanctuary Advisors LLC raised 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 acquiring an additional 3,943 shares during the period. Finally, TT International Asset Management LTD acquired a new position in shares of PDD during the 3rd quarter valued at about $74,430,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of NASDAQ PDD opened at $96.82 on Friday. The company has a market capitalization of $133.21 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company’s fifty day moving average price is $106.90 and its 200 day moving average price is $120.10. PDD has a 1 year low of $88.01 and a 1 year high of $164.69.

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.