PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives $137.50 Average Price Target from Brokerages

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been assigned a consensus rating of “Hold” from the fifteen research firms that are presently covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $137.50.

Several analysts have weighed in on PDD shares. Benchmark reissued a “buy” rating and issued a $160.00 price target (up from $128.00) on shares of PDD in a research note on Tuesday, August 26th. Sanford C. Bernstein set a $135.00 target price on PDD in a research note on Tuesday, November 18th. Barclays increased their target price on PDD from $158.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Finally, Bank of America dropped their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th.

Institutional Investors Weigh In On PDD

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of PDD by 1.1% in the third quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock valued at $4,280,289,000 after acquiring an additional 348,997 shares during the period. Norges Bank purchased a new position in PDD during the 2nd quarter valued at about $962,785,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in PDD by 899.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company’s stock valued at $1,063,489,000 after purchasing an additional 8,086,620 shares during the last quarter. Sanders Capital LLC lifted its holdings in PDD by 21.5% in the 2nd quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock worth $892,395,000 after buying an additional 1,508,445 shares during the period. Finally, H&H International Investment LLC grew its position in shares of PDD by 7.3% in the 1st quarter. H&H International Investment LLC now owns 7,753,900 shares of the company’s stock worth $917,674,000 after buying an additional 525,200 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $116.13 on Tuesday. PDD has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The firm has a market cap of $161.68 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.37 and a beta of 0.47. The firm has a 50 day moving average price of $129.55 and a 200-day moving average price of $118.70.

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.