Analysts Set PDD Holdings Inc. (NASDAQ:PDD) Target Price at $173.40

PDD Holdings Inc. (NASDAQ:PDD) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. Three investment 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 analysts that have issued ratings on the stock in the last year is $173.40.

PDD has been the subject of several research reports. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Benchmark cut their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group lowered their price objective on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note 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. Finally, JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $170.00 to $105.00 in a research report on Friday, November 22nd.

PDD Trading Down 0.1 %

Shares of PDD stock opened at $96.89 on Friday. 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 cap of $133.31 billion, a P/E ratio of 9.46, a PEG ratio of 0.29 and a beta of 0.67. The company has a 50 day moving average of $107.41 and a 200-day moving average of $120.46. PDD has a 12-month low of $88.01 and a 12-month high of $164.69.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd boosted its position in shares of PDD by 1,218.9% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after acquiring an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after purchasing an additional 14,905 shares during the last quarter. TB Alternative Assets Ltd. grew its stake in PDD by 33.7% in the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock worth $23,342,000 after buying an additional 43,648 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of PDD by 13.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock worth $31,589,000 after buying an additional 27,567 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of PDD by 63.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after buying an additional 89,853 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

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.