PDD Holdings Inc. (NASDAQ:PDD) Receives $173.40 Average Target Price from Analysts

PDD Holdings Inc. (NASDAQ:PDD) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $173.40.

A number of analysts have recently weighed in on PDD shares. Benchmark reduced their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Jefferies Financial Group cut their price objective on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st.

PDD Stock Down 3.1 %

PDD opened at $124.43 on Monday. The firm has a market cap of $171.20 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The business has a 50 day moving average price of $106.14 and a 200 day moving average price of $114.10. PDD has a twelve month low of $88.01 and a twelve month high of $164.69.

Institutional Trading of PDD

Institutional investors have recently modified their holdings of the company. Prospera Private Wealth LLC bought a new stake in PDD in the third quarter valued at about $27,000. Venturi Wealth Management LLC acquired a new stake in PDD during the third quarter valued at approximately $29,000. Nisa Investment Advisors LLC bought a new stake in shares of PDD in the 4th quarter valued at approximately $39,000. Brooklyn Investment Group raised its holdings in shares of PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

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.