PDD (NASDAQ:PDD) Price Target Raised to $125.00

PDD (NASDAQ:PDD - Free Report) had its target price lifted by JPMorgan Chase & Co. from $105.00 to $125.00 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued reports about the stock. Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of PDD in a research note on Friday. Nomura reaffirmed a "neutral" rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group reduced their price target on shares of PDD from $171.00 to $156.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Finally, Dbs Bank lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.

PDD Stock Down 0.3 %

Shares of NASDAQ PDD traded down $0.40 during mid-day trading on Friday, reaching $127.72. The company had a trading volume of 2,704,544 shares, compared to its average volume of 10,414,537. The stock has a market capitalization of $175.72 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. PDD has a twelve month low of $88.01 and a twelve month high of $164.69. 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 stock's 50 day moving average is $116.40 and its 200-day moving average is $113.63.

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Institutional Investors Weigh In On PDD

Several institutional investors have recently made changes to their positions in the stock. Gordian Capital Singapore Pte Ltd increased its holdings in shares of PDD by 1,218.9% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company's stock worth $942,000 after buying an additional 6,460 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock worth $5,155,000 after buying an additional 14,905 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new position in PDD in the third quarter valued at $74,221,000. Headwater Capital Co Ltd acquired a new position in shares of PDD in the 4th quarter valued at about $9,699,000. Finally, Baillie Gifford & Co. grew its stake in PDD by 5.4% during the fourth 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 during the period. 39.83% of the stock is currently owned by institutional investors.

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.