Nomura Reiterates "Neutral" Rating for PDD (NASDAQ:PDD)

Nomura reiterated their neutral rating on shares of PDD (NASDAQ:PDD - Free Report) in a report released on Thursday, MarketBeat Ratings reports. The firm currently has a $130.00 price target on the stock, down from their previous price target of $137.00.

A number of other brokerages have also recently weighed in on PDD. Jefferies Financial Group reduced 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 lowered their price objective on shares of PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Dbs Bank cut shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lowered 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. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PDD has an average rating of "Moderate Buy" and a consensus target price of $169.91.

PDD Stock Performance

Shares of PDD traded up $1.80 during midday trading on Thursday, reaching $128.44. 4,417,289 shares of the stock were exchanged, compared to its average volume of 10,406,730. The company has a market capitalization of $176.72 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD has a twelve month low of $88.01 and a twelve month high of $164.69. The business's 50-day moving average price is $115.75 and its 200 day moving average price is $113.38.

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Institutional Investors Weigh In On PDD

A number of institutional investors and hedge funds have recently modified their holdings of PDD. OneDigital Investment Advisors LLC grew its position in shares of PDD by 6.8% in the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company's stock valued at $354,000 after purchasing an additional 166 shares during the last quarter. Prospera Financial Services Inc grew its position in shares of PDD by 27.1% in the third quarter. Prospera Financial Services Inc now owns 4,842 shares of the company's stock valued at $653,000 after purchasing an additional 1,033 shares during the period. Avior Wealth Management LLC grew its holdings in PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock valued at $68,000 after buying an additional 169 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of PDD during the 3rd quarter valued at about $27,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of PDD by 39.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,148 shares of the company's stock worth $559,000 after acquiring an additional 1,184 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.

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.