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

Shares of PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirteen research firms that are currently covering the stock, MarketBeat reports. Three 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 1 year price objective among brokers that have updated their coverage on the stock in the last year is $173.40.

PDD has been the subject of several research analyst reports. Macquarie upgraded shares of PDD from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $126.00 to $224.00 in a research report on Monday, October 7th. 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. Jefferies Financial Group reduced their price objective on PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. Dbs Bank downgraded PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Finally, Benchmark dropped their target price on shares of PDD from $185.00 to $160.00 and set a "buy" rating for the company in a report on Friday, November 22nd.

PDD Price Performance

Shares of NASDAQ PDD traded down $1.42 during midday trading on Friday, reaching $97.45. The company's stock had a trading volume of 5,815,789 shares, compared to its average volume of 10,621,286. 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 company has a market cap of $134.08 billion, a P/E ratio of 9.52, a P/E/G ratio of 0.29 and a beta of 0.66. The business's 50 day moving average price is $109.65 and its two-hundred day moving average price is $121.55. PDD has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

Institutional Investors Weigh In On PDD

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its position in shares of PDD by 2.8% during the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company's stock worth $4,868,859,000 after buying an additional 988,042 shares in the last quarter. FMR LLC boosted its holdings in shares of PDD by 8.6% in the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company's stock worth $2,821,595,000 after buying an additional 1,654,764 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 during the last quarter. Tairen Capital Ltd grew its holdings in PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company's stock valued at $715,055,000 after purchasing an additional 1,788,076 shares during the period. Finally, Legal & General Group Plc increased its holdings in PDD by 13.0% in the 2nd quarter. Legal & General Group Plc now owns 5,332,414 shares of the company's stock worth $708,944,000 after acquiring an additional 612,119 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other 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.