PDD Holdings Inc. (NASDAQ:PDD) Given Consensus Rating of “Moderate Buy” by Brokerages

PDD Holdings Inc. (NASDAQ:PDD) has received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $173.40.

PDD has been the subject of several recent analyst reports. Benchmark cut their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group cut their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Finally, Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd.

PDD Stock Up 5.6 %

NASDAQ PDD opened at $131.34 on Monday. The business has a fifty day moving average price of $107.12 and a two-hundred day moving average price of $113.94. 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 fifty-two week low of $88.01 and a fifty-two week high of $164.69. The stock has a market capitalization of $180.71 billion, a PE ratio of 12.83, a PEG ratio of 0.32 and a beta of 0.67.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PDD. Prospera Private Wealth LLC acquired a new stake in PDD in the third quarter valued at $27,000. Venturi Wealth Management LLC acquired a new stake in PDD in the third quarter valued at $29,000. Nisa Investment Advisors LLC acquired a new stake in PDD in the fourth quarter valued at $39,000. Carolina Wealth Advisors LLC acquired a new stake in PDD in the third quarter valued at $66,000. Finally, Avior Wealth Management LLC increased its holdings in PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after purchasing an additional 169 shares during the period. 39.83% of the stock is currently owned by institutional investors.

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.