Brokerages Set PDD Holdings Inc. (NASDAQ:PDD) PT at $173.40

PDD Holdings Inc. (NASDAQ:PDDGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $173.40.

A number of research firms have recently commented on PDD. Jefferies Financial Group reduced their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. 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 report on Friday, November 22nd. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $126.00 to $224.00 in a report on Monday, October 7th.

View Our Latest Research Report on PDD

Institutional Investors Weigh In On PDD

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in PDD by 1,374.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after acquiring an additional 12,253,589 shares in the last quarter. H&H International Investment LLC grew its position in shares of PDD by 3,693.8% during the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after buying an additional 3,804,600 shares during the period. FMR LLC grew its position in shares of PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after buying an additional 1,654,764 shares during the period. Dragoneer Investment Group LLC grew its position in shares of PDD by 142.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock worth $348,440,000 after buying an additional 1,540,346 shares during the period. Finally, Baillie Gifford & Co. grew its position in shares of PDD by 2.8% during the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock worth $4,868,859,000 after buying an additional 988,042 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

NASDAQ PDD opened at $112.04 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $154.15 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.27 and a beta of 0.66. The company’s fifty day moving average is $101.28 and its two-hundred day moving average is $115.57. PDD has a 52-week low of $88.01 and a 52-week high of $164.69.

About PDD

(Get Free Report

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.

Featured Stories

Analyst Recommendations for PDD (NASDAQ:PDD)

Receive News & Ratings for PDD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDD and related companies with MarketBeat.com's FREE daily email newsletter.