Jefferies Financial Group Cuts PDD (NASDAQ:PDD) Price Target to $156.00

PDD (NASDAQ:PDD - Get Free Report) had its price objective decreased by research analysts at Jefferies Financial Group from $171.00 to $156.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price objective would indicate a potential upside of 20.97% from the company's previous close.

Several other analysts also recently commented on the stock. Benchmark decreased their price objective on shares of PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Dbs Bank cut PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut PDD from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, PDD has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.

PDD Stock Performance

Shares of NASDAQ:PDD traded up $2.32 during mid-day trading on Thursday, reaching $128.96. 4,578,772 shares of the company traded hands, compared to its average volume of 10,407,445. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The firm has a market cap of $177.43 billion, a PE ratio of 12.59, a PEG ratio of 0.32 and a beta of 0.69. The company's 50 day moving average price is $115.75 and its 200-day moving average price is $113.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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Institutional Trading of PDD

A number of large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its holdings in PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after buying an additional 97 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after acquiring an additional 132 shares during the period. New York Life Investment Management LLC raised its stake in shares of PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock valued at $245,000 after acquiring an additional 139 shares in the last quarter. Cibc World Markets Corp boosted its holdings in shares of PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock valued at $1,435,000 after purchasing an additional 164 shares during the period. Finally, OneDigital Investment Advisors LLC increased its holdings in PDD by 6.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company's stock worth $354,000 after purchasing an additional 166 shares during the period. 39.83% of the stock is currently owned by institutional investors.

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.