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

PDD Holdings Inc. (NASDAQ:PDD) has received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $173.40.

A number of equities analysts have weighed in on PDD shares. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Jefferies Financial Group cut their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Benchmark lowered their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd.

Institutional Investors Weigh In On PDD

A number of hedge funds have recently made changes to their positions in the company. Prime Capital Investment Advisors LLC raised its holdings in PDD by 5.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock valued at $244,000 after buying an additional 89 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after purchasing an additional 97 shares during the period. Farther Finance Advisors LLC grew its holdings in PDD by 30.9% during the 4th 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 last quarter. New York Life Investment Management LLC raised its position in PDD by 5.8% in the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after purchasing an additional 139 shares during the period. Finally, Cibc World Markets Corp lifted its stake in PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock worth $1,435,000 after purchasing an additional 164 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of PDD opened at $124.16 on Monday. PDD has a 12 month low of $88.01 and a 12 month high of $164.69. The business’s fifty day simple moving average is $104.97 and its two-hundred day simple moving average is $114.15. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market cap of $170.83 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 0.29 and a beta of 0.67.

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.