PDD (NASDAQ:PDD) Raised to “Buy” at Arete Research

PDD (NASDAQ:PDD) was upgraded by stock analysts at Arete Research from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat reports. The firm currently has a $121.00 target price on the stock. Arete Research’s target price would suggest a potential upside of 15.47% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Loop Capital set a $170.00 price objective on PDD in a research note on Tuesday, January 6th. Citigroup restated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Nomura raised PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Friday, March 27th. Finally, Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $139.67.

PDD Price Performance

Shares of NASDAQ:PDD opened at $104.79 on Friday. The company has a market capitalization of $145.88 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 0.98 and a beta of 0.07. The business has a fifty day moving average price of $102.02 and a two-hundred day moving average price of $113.50. PDD has a 1 year low of $92.68 and a 1 year high of $139.41.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of PDD by 94.6% during the 1st quarter. SG Americas Securities LLC now owns 6,301,820 shares of the company’s stock valued at $643,920,000 after buying an additional 3,063,694 shares during the last quarter. MY.Alpha Management HK Advisors Ltd purchased a new position in shares of PDD during the 4th quarter valued at $16,471,000. Sankala Group LLC purchased a new stake in PDD during the 4th quarter worth about $131,000. Pacer Advisors Inc. lifted its holdings in PDD by 4.2% during the 4th quarter. Pacer Advisors Inc. now owns 48,488 shares of the company’s stock worth $5,498,000 after purchasing an additional 1,964 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in PDD during the 4th quarter worth about $2,079,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Company Profile

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.