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

Shares of PDD Holdings Inc. (NASDAQ:PDD) have earned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $144.55.

PDD has been the subject of a number of recent analyst reports. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $112.00 price target on shares of PDD in a research note on Wednesday, May 28th. Nomura reaffirmed a “neutral” rating and set a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Benchmark dropped their price objective on PDD from $160.00 to $128.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th. Finally, Macquarie reissued an “outperform” rating on shares of PDD in a research report on Tuesday, May 27th.

PDD Trading Down 0.1%

PDD stock opened at $96.44 on Tuesday. PDD has a 12 month low of $87.11 and a 12 month high of $155.67. The company has a market capitalization of $134.26 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The business’s fifty day simple moving average is $106.40 and its two-hundred day simple moving average is $108.61. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On PDD

Several hedge funds and other institutional investors have recently modified their holdings of the stock. abrdn plc raised its stake in shares of PDD by 12.7% in the fourth quarter. abrdn plc now owns 1,397,319 shares of the company’s stock worth $136,588,000 after buying an additional 157,099 shares during the period. Caas Capital Management LP increased its holdings in PDD by 4,814.5% in the 4th quarter. Caas Capital Management LP now owns 9,429 shares of the company’s stock worth $915,000 after acquiring an additional 9,629 shares in the last quarter. Stephens Consulting LLC bought a new stake in PDD during the 4th quarter worth approximately $97,000. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd bought a new stake in PDD during the 4th quarter worth approximately $2,308,000. Finally, Global X Japan Co. Ltd. lifted its holdings in PDD by 21.8% during the fourth quarter. Global X Japan Co. Ltd. now owns 189,389 shares of the company’s stock valued at $18,369,000 after purchasing an additional 33,907 shares in the last quarter. 39.83% of the stock is currently 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.