Nomura Reiterates Neutral Rating for PDD (NASDAQ:PDD)

PDD (NASDAQ:PDD)‘s stock had its “neutral” rating reiterated by analysts at Nomura in a research note issued on Thursday, Marketbeat reports. They presently have a $130.00 price objective on the stock, down from their prior price objective of $137.00. Nomura’s price target would suggest a potential upside of 2.65% from the company’s previous close.

A number of other research firms have also recently weighed in on PDD. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Jefferies Financial Group dropped their price target on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday. Benchmark dropped their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Trading Down 3.3 %

Shares of PDD stock opened at $126.64 on Thursday. PDD has a 12-month low of $88.01 and a 12-month high of $164.69. The stock has a market cap of $174.24 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.32 and a beta of 0.69. 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’s 50 day moving average is $115.75 and its 200-day moving average is $113.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its holdings in shares of PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of PDD by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock worth $2,779,986,000 after purchasing an additional 268,662 shares in the last quarter. FMR LLC grew its holdings in shares of PDD by 22.3% during the 4th quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after purchasing an additional 4,673,022 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PDD by 1,374.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of PDD during the 4th quarter worth $812,246,000. 39.83% of the stock is owned by institutional investors and hedge funds.

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.