PDD (NASDAQ:PDD) Stock Rating Upgraded by Wall Street Zen

PDD (NASDAQ:PDD) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

PDD has been the topic of a number of other research reports. Arete Research set a $130.00 price objective on shares of PDD in a research note on Tuesday, December 9th. Zacks Research lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Citigroup reaffirmed a “buy” rating on shares of PDD in a report on Tuesday. Morgan Stanley set a $148.00 target price on shares of PDD in a research note on Thursday, January 15th. Finally, Sanford C. Bernstein set a $135.00 target price on PDD in a research report on Tuesday, November 18th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Stock Up 0.3%

PDD stock opened at $106.38 on Friday. The business’s 50-day moving average price is $113.90 and its 200 day moving average price is $120.73. The firm has a market cap of $148.10 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.02. PDD has a 52 week low of $87.11 and a 52 week high of $139.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Westside Investment Management Inc. increased its stake in PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after buying an additional 199 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of PDD in the second quarter worth approximately $28,000. GAMMA Investing LLC increased its position in shares of PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after purchasing an additional 238 shares in the last quarter. Binnacle Investments Inc increased its position in shares of PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Finally, Wexford Capital LP acquired a new position in PDD in the 3rd quarter valued at $44,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

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.