PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Given Average Rating of “Hold” by Analysts

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has received an average rating of “Hold” from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $124.6429.

Several equities research analysts recently issued reports on PDD shares. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a report on Thursday, May 28th. Morgan Stanley set a $129.00 price objective on shares of PDD in a research note on Wednesday, May 27th. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Friday, April 17th. Citigroup lowered their target price on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Finally, Benchmark dropped their target price on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a report on Thursday, May 28th.

PDD Trading Up 1.0%

Shares of NASDAQ:PDD opened at $91.76 on Friday. The stock has a fifty day simple moving average of $83.65 and a two-hundred day simple moving average of $94.79. The stock has a market capitalization of $130.61 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.75 and a beta of 0.02. PDD has a 12-month low of $71.94 and a 12-month high of $139.41.

PDD (NASDAQ:PDD) last issued its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($1.02). The firm had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.57 EPS. As a group, equities research analysts predict that PDD will post 9.7 EPS for the current year.

Institutional Trading of PDD

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in PDD by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after purchasing an additional 425,908 shares in the last quarter. H&H International Investment LLC lifted its holdings in shares of PDD by 71.2% in the first quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after buying an additional 8,211,600 shares in the last quarter. Norges Bank purchased a new position in shares of PDD in the fourth quarter worth $1,065,446,000. Geode Capital Management LLC boosted its position in shares of PDD by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after acquiring an additional 359,921 shares during the last quarter. Finally, Krane Funds Advisors LLC boosted its position in shares of PDD by 4.2% during the fourth quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock worth $725,465,000 after acquiring an additional 258,888 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.