PDD Holdings Inc. (NASDAQ:PDD) Given Average Recommendation of “Moderate Buy” by Brokerages

PDD Holdings Inc. (NASDAQ:PDDGet Free Report) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $146.85.

Several research firms recently issued reports on PDD. JPMorgan Chase & Co. cut their price objective on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Jefferies Financial Group boosted their price objective on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Citigroup boosted their price objective on PDD from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Benchmark boosted their price objective on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Barclays boosted their price objective on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, March 21st.

Get Our Latest Research Report on PDD

Institutional Trading of PDD

Several hedge funds and other institutional investors have recently bought and sold shares of PDD. E Fund Management Hong Kong Co. Ltd. increased its holdings in PDD by 136.0% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 257,145 shares of the company’s stock valued at $10,857,000 after buying an additional 148,166 shares during the last quarter. Advisor Group Holdings Inc. boosted its stake in PDD by 100.2% in the first quarter. Advisor Group Holdings Inc. now owns 3,741 shares of the company’s stock valued at $152,000 after acquiring an additional 1,872 shares during the period. Raymond James & Associates boosted its stake in PDD by 16.1% in the first quarter. Raymond James & Associates now owns 16,641 shares of the company’s stock valued at $667,000 after acquiring an additional 2,304 shares during the period. American Century Companies Inc. boosted its stake in PDD by 30.7% in the first quarter. American Century Companies Inc. now owns 28,785 shares of the company’s stock valued at $1,155,000 after acquiring an additional 6,766 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in PDD by 16.5% in the first quarter. Panagora Asset Management Inc. now owns 40,548 shares of the company’s stock valued at $1,626,000 after acquiring an additional 5,744 shares during the period. 29.07% of the stock is owned by institutional investors.

PDD Stock Performance

NASDAQ PDD opened at $116.25 on Friday. PDD has a fifty-two week low of $59.67 and a fifty-two week high of $152.99. The stock’s fifty day moving average is $127.79 and its two-hundred day moving average is $123.50. The firm has a market capitalization of $153.40 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 0.31 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 1.93.

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.

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Analyst Recommendations for PDD (NASDAQ:PDD)

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