PDD (NASDAQ:PDD) Stock Rating Upgraded by Nomura

PDD (NASDAQ:PDD) was upgraded by investment analysts at Nomura from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $136.00 target price on the stock. Nomura’s price target would suggest a potential upside of 36.26% from the stock’s previous close.

Several other research analysts also recently commented on the company. Morgan Stanley set a $148.00 target price on PDD in a report on Thursday, January 15th. Loop Capital set a $170.00 price target on PDD in a report on Tuesday, January 6th. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Arete Research set a $130.00 target price on PDD in a report on Tuesday, December 9th. Finally, Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, PDD presently has a consensus rating of “Hold” and a consensus target price of $140.27.

PDD Trading Down 0.8%

Shares of PDD stock opened at $99.81 on Friday. The stock has a market capitalization of $138.95 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 0.88 and a beta of -0.01. The firm’s 50-day moving average price is $102.89 and its two-hundred day moving average price is $116.43. PDD has a 1-year low of $87.11 and a 1-year high of $139.41.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PDD. GAMMA Investing LLC increased its stake in shares of PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after buying an additional 238 shares during the period. Binnacle Investments Inc lifted its stake in shares of PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of PDD by 230.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after acquiring an additional 263 shares during the period. Wexford Capital LP bought a new position in PDD in the third quarter valued at about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in PDD in the fourth quarter worth about $44,000. Institutional investors own 39.83% of the company’s stock.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.