PDD Holdings Inc. (NASDAQ:PDD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PDD Holdings Inc. (NASDAQ:PDD) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $171.90.

A number of research analysts recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Benchmark dropped their target price 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. Finally, JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd.

Hedge Funds Weigh In On PDD

Several institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its position in PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after purchasing an additional 97 shares during the period. Farther Finance Advisors LLC boosted 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 purchasing an additional 132 shares during the period. New York Life Investment Management LLC boosted its position in PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after purchasing an additional 139 shares during the period. Cibc World Markets Corp boosted its position in PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock worth $1,435,000 after purchasing an additional 164 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its holdings 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 worth $354,000 after buying an additional 166 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Trading Up 4.0 %

Shares of NASDAQ:PDD traded up $5.00 during trading on Thursday, reaching $130.92. The stock had a trading volume of 33,201,636 shares, compared to its average volume of 10,603,476. The firm’s fifty day moving average is $114.50 and its 200 day moving average is $112.79. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The stock has a market cap of $180.13 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 0.32 and a beta of 0.69.

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.