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

PDD Holdings Inc. (NASDAQ:PDD) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $173.40.

Several equities analysts recently issued reports on PDD shares. Benchmark lowered their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group lowered their price target on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Nomura Securities upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Finally, Daiwa America upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PDD. Prospera Private Wealth LLC acquired a new position in shares of PDD in the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC acquired a new position in PDD during the 3rd quarter worth $29,000. Ashton Thomas Private Wealth LLC acquired a new position in PDD during the 2nd quarter worth $32,000. Richardson Financial Services Inc. lifted its holdings in PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in PDD during the 3rd quarter worth $34,000. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Trading Down 5.3 %

Shares of PDD opened at $104.49 on Wednesday. PDD has a 12-month low of $88.01 and a 12-month high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $143.76 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.29 and a beta of 0.67. The stock’s 50-day moving average price is $120.76 and its 200 day moving average price is $126.29.

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.