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

PDD Holdings Inc. (NASDAQ:PDD) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $173.40.

Several brokerages recently commented on PDD. Jefferies Financial Group reduced their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Benchmark cut their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd.

PDD Stock Down 0.1 %

Shares of NASDAQ:PDD opened at $112.04 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market cap of $154.15 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 0.27 and a beta of 0.66. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The firm has a 50 day simple moving average of $101.28 and a 200 day simple moving average of $115.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PDD by 1,374.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after buying an additional 12,253,589 shares during the last quarter. H&H International Investment LLC grew its stake in PDD by 3,693.8% in the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after buying an additional 3,804,600 shares during the last quarter. FMR LLC grew its position in PDD by 8.6% in the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after purchasing an additional 1,654,764 shares during the last quarter. Dragoneer Investment Group LLC grew its position in PDD by 142.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock worth $348,440,000 after purchasing an additional 1,540,346 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position in PDD by 2.8% in the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock worth $4,868,859,000 after purchasing an additional 988,042 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

About PDD

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.