PDD Holdings Inc. (NASDAQ:PDD) Given Consensus Recommendation of "Moderate Buy" by Brokerages

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $169.91.

A number of research analysts recently commented on the company. Jefferies Financial Group lowered their price objective on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday. Benchmark reaffirmed a "buy" rating and set a $160.00 target price on shares of PDD in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday. Nomura restated a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday. Finally, Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday.

Institutional Investors Weigh In On PDD

A number of large investors have recently bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new stake in shares of PDD in the third quarter worth approximately $27,000. Nisa Investment Advisors LLC bought a new position in PDD during the fourth quarter valued at $39,000. Brooklyn Investment Group raised its stake in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after acquiring an additional 405 shares during the period. Global Retirement Partners LLC raised its position in shares of PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after purchasing an additional 498 shares during the period. Finally, Farther Finance Advisors LLC lifted 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 in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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PDD Stock Up 1.2 %

Shares of NASDAQ:PDD traded up $1.48 during trading on Thursday, hitting $128.12. The company's stock had a trading volume of 6,669,694 shares, compared to its average volume of 10,415,405. The company has a market capitalization of $176.28 billion, a PE ratio of 12.51, a PEG ratio of 0.32 and a beta of 0.69. 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 price is $115.75 and its two-hundred day moving average price is $113.38. PDD has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

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.