PDD (NASDAQ:PDD) Price Target Raised to $112.00 at Bank of America

PDD (NASDAQ:PDD) had its price objective increased by Bank of America from $97.00 to $112.00 in a research note published on Tuesday morning, FlyOnTheWall reports.

PDD has been the topic of a number of other reports. Benchmark raised their price target on PDD from $106.00 to $125.00 in a research note on Tuesday, May 30th. 500.com restated a maintains rating on shares of PDD in a research note on Tuesday, May 30th. Jefferies Financial Group raised their price target on PDD from $79.00 to $95.50 in a research note on Tuesday. Barclays lifted their target price on PDD from $100.00 to $103.00 in a research report on Wednesday, May 31st. Finally, Morgan Stanley lifted their target price on PDD from $110.00 to $120.00 in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $110.95.

PDD Stock Up 15.4 %

Shares of NASDAQ PDD opened at $93.22 on Tuesday. The stock has a market cap of $123.01 billion, a P/E ratio of 25.06, a PEG ratio of 1.13 and a beta of 0.76. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. PDD has a 12-month low of $38.80 and a 12-month high of $106.38. The business’s fifty day simple moving average is $78.32 and its 200-day simple moving average is $76.52.

Institutional Investors Weigh In On PDD

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp raised its position in shares of PDD by 70.1% during the 1st quarter. Fifth Third Bancorp now owns 410 shares of the company’s stock worth $31,000 after purchasing an additional 169 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in PDD in the 4th quarter valued at $37,000. Hollencrest Capital Management acquired a new position in PDD in the 4th quarter valued at $41,000. Altshuler Shaham Ltd acquired a new position in PDD in the 4th quarter valued at $43,000. Finally, Captrust Financial Advisors raised its holdings in PDD by 108.5% in the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock valued at $26,000 after acquiring an additional 331 shares during the last quarter. 31.08% of the stock is currently owned by institutional investors and hedge funds.

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.