PDD (NASDAQ:PDD) Stock Rating Lowered by Nomura Securities

Nomura Securities cut shares of PDD (NASDAQ:PDD - Free Report) from a strong-buy rating to a hold rating in a research report report published on Friday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Nomura reaffirmed a "neutral" rating and set a $130.00 target price (down from $137.00) on shares of PDD in a report on Thursday, March 20th. JPMorgan Chase & Co. increased their target price on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Benchmark restated a "buy" rating and issued a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Jefferies Financial Group reduced their price target on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Finally, Dbs Bank lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $169.91.

PDD Stock Performance

Shares of NASDAQ PDD traded down $2.78 during trading on Friday, reaching $122.47. 8,296,578 shares of the company traded hands, compared to its average volume of 10,381,194. The stock has a market cap of $168.50 billion, a P/E ratio of 11.96, a PEG ratio of 0.32 and a beta of 0.69. The firm's fifty day simple moving average is $117.38 and its 200 day simple moving average is $113.92. 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 12-month low of $88.01 and a 12-month high of $164.69.

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Institutional Investors Weigh In On PDD

Large investors have recently modified their holdings of the business. Prospera Private Wealth LLC acquired a new position in PDD during the third quarter worth about $27,000. Nisa Investment Advisors LLC purchased a new position in PDD in the 4th quarter worth approximately $39,000. Brooklyn Investment Group boosted its holdings in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after purchasing an additional 405 shares during the last quarter. Global Retirement Partners LLC increased its holdings 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 last quarter. Finally, Farther Finance Advisors LLC lifted its position in 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 buying an additional 132 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.