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

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

PDD has been the subject of a number of research reports. Benchmark dropped their price target on 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 lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Finally, Jefferies Financial Group reduced their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st.

PDD Trading Down 0.1 %

Shares of PDD opened at $96.89 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD has a 52-week low of $88.01 and a 52-week high of $164.69. The firm has a market cap of $133.31 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.29 and a beta of 0.67. The business’s fifty day moving average is $107.41 and its 200-day moving average is $120.46.

Institutional Investors Weigh In On PDD

Institutional investors and hedge funds have recently bought and sold shares of the stock. Prospera Private Wealth LLC bought a new position in shares of PDD during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC bought a new stake in PDD during the third quarter worth $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD during the second quarter worth $32,000. Richardson Financial Services Inc. boosted its position in PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of PDD during the 3rd quarter valued at $34,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

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.