PDD (NASDAQ:PDD) Upgraded to “Buy” at Wall Street Zen

PDD (NASDAQ:PDD) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other analysts have also recently weighed in on PDD. Arete Research set a $130.00 target price on shares of PDD in a report on Tuesday, December 9th. Morgan Stanley set a $148.00 price objective on PDD in a research report on Thursday, January 15th. Citigroup restated a “buy” rating on shares of PDD in a report on Tuesday. Bank of America reduced their target price on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Finally, Zacks Research lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $139.87.

PDD Trading Up 0.3%

NASDAQ:PDD opened at $106.38 on Friday. The company has a 50-day moving average of $113.90 and a 200-day moving average of $120.63. The firm has a market cap of $148.10 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.02. PDD has a twelve month low of $87.11 and a twelve month high of $139.41.

Institutional Investors Weigh In On PDD

Several hedge funds have recently bought and sold shares of PDD. Focus Partners Wealth increased its holdings in shares of PDD by 352.8% in the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after purchasing an additional 7,744 shares during the period. Intech Investment Management LLC grew its position in PDD by 2.7% during the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after purchasing an additional 395 shares in the last quarter. Sowell Financial Services LLC purchased a new position in PDD during the second quarter valued at approximately $237,000. Union Bancaire Privee UBP SA increased its stake in PDD by 20.8% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 56,727 shares of the company’s stock valued at $5,403,000 after buying an additional 9,751 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in PDD in the 2nd quarter worth approximately $28,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

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.