Analysts Set PDD Holdings Inc. (NASDAQ:PDD) Price Target at $173.40

Shares of PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $173.40.

Several equities analysts have issued reports on the company. Daiwa America upgraded PDD to a "strong-buy" rating in a research note on Tuesday, August 27th. Bank of America cut their price objective on shares of PDD from $206.00 to $170.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group decreased 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. JPMorgan Chase & Co. downgraded PDD from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Macquarie raised PDD from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $126.00 to $224.00 in a research report on Monday, October 7th.

PDD Stock Down 0.9 %

Shares of PDD traded down $0.88 during midday trading on Wednesday, reaching $97.57. 4,839,134 shares of the stock were exchanged, compared to its average volume of 10,664,572. The company has a market capitalization of $134.24 billion, a P/E ratio of 9.61, a PEG ratio of 0.28 and a beta of 0.66. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The company's 50 day moving average is $122.87 and its two-hundred day moving average is $127.59.

Institutional Investors Weigh In On PDD

Several institutional investors have recently modified their holdings of PDD. Prospera Private Wealth LLC acquired a new position in PDD during the third quarter worth approximately $27,000. Venturi Wealth Management LLC purchased a new position in PDD during the 3rd quarter worth $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in PDD in the second quarter valued at about $32,000. Richardson Financial Services Inc. boosted its stake in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock valued at $32,000 after buying an additional 233 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the 3rd quarter worth $34,000. 29.07% of the stock is owned by hedge funds and other 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.