PDD (NASDAQ:PDD) Rating Lowered to Hold at Nomura Securities

Nomura Securities cut shares of PDD (NASDAQ:PDD) from a strong-buy rating to a hold rating in a research report released on Friday,Zacks.com reports.

PDD has been the subject of several other reports. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of PDD in a report on Friday. Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday. Nomura reiterated a “neutral” rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Stock Down 3.3 %

NASDAQ:PDD opened at $126.64 on Friday. The company has a market cap of $174.24 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. PDD has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a fifty day simple moving average of $115.75 and a 200-day simple moving average of $113.38.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Prospera Financial Services Inc lifted its holdings in shares of PDD by 27.1% during the 3rd quarter. Prospera Financial Services Inc now owns 4,842 shares of the company’s stock valued at $653,000 after purchasing an additional 1,033 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of PDD by 50.9% during the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after buying an additional 169 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of PDD during the third quarter worth $27,000. Advisors Asset Management Inc. grew its holdings in shares of PDD by 39.9% during the third quarter. Advisors Asset Management Inc. now owns 4,148 shares of the company’s stock valued at $559,000 after buying an additional 1,184 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of PDD by 63.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 669,605 shares of the company’s stock valued at $90,269,000 after acquiring an additional 259,937 shares during the period. Institutional investors 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.