PDD Holdings Inc. (NASDAQ:PDD) Receives $169.91 Average Target Price from Brokerages

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fourteen analysts that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $169.91.

Several brokerages have recently issued reports on PDD. Jefferies Financial Group decreased their price target on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Nomura reaffirmed a "neutral" rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Benchmark reaffirmed a "buy" rating and set a $160.00 target price on shares of PDD in a research report on Friday, March 21st. JPMorgan Chase & Co. raised their price target on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st.

PDD Stock Down 0.7 %

PDD stock traded down $0.71 during trading hours on Monday, reaching $94.07. 9,600,109 shares of the stock were exchanged, compared to its average volume of 11,244,604. The company has a market cap of $129.43 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 0.32 and a beta of 0.73. PDD has a 12 month low of $87.11 and a 12 month high of $164.69. The firm's 50-day moving average is $116.30 and its 200-day moving average is $113.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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Institutional Trading of PDD

A number of institutional investors have recently added to or reduced their stakes in PDD. HighTower Advisors LLC lifted its holdings in PDD by 100.5% in the 3rd quarter. HighTower Advisors LLC now owns 4,129 shares of the company's stock worth $559,000 after buying an additional 800,614 shares in the last quarter. Stifel Financial Corp boosted its holdings in PDD by 172.8% during the third quarter. Stifel Financial Corp now owns 6,400 shares of the company's stock worth $863,000 after buying an additional 4,054 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of PDD in the 3rd quarter valued at approximately $2,134,000. Sanctuary Advisors LLC lifted its position in shares of PDD by 42.1% in the third quarter. Sanctuary Advisors LLC now owns 13,306 shares of the company's stock worth $1,794,000 after purchasing an additional 3,943 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in shares of PDD by 1,019.4% during the 3rd quarter. Tidal Investments LLC now owns 71,173 shares of the company's stock worth $9,595,000 after purchasing an additional 64,815 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

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.