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

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) has earned an average recommendation of "Moderate Buy" from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given 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.

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

PDD Trading Down 0.0 %

Shares of NASDAQ:PDD traded down $0.02 during mid-day trading on Monday, reaching $124.41. 10,658,418 shares of the company's stock were exchanged, compared to its average volume of 8,460,911. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD has a twelve month low of $88.01 and a twelve month high of $164.69. The firm has a market capitalization of $171.17 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.33 and a beta of 0.67. The business's fifty day moving average price is $106.14 and its 200-day moving average price is $114.10.

Institutional Trading of PDD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of PDD by 1,374.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company's stock valued at $1,772,106,000 after buying an additional 12,253,589 shares in the last quarter. Norges Bank acquired a new stake in shares of PDD in the 4th quarter worth about $812,246,000. Sanders Capital LLC bought a new position in PDD in the 4th quarter valued at about $499,972,000. FMR LLC boosted its stake in PDD by 22.3% during the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares during the last quarter. Finally, H&H International Investment LLC boosted its stake in PDD by 3,693.8% during the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company's stock valued at $526,784,000 after purchasing an additional 3,804,600 shares during the last quarter. 39.83% of the stock is 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.