PDD (NASDAQ:PDD) Price Target Lowered to $156.00 at Jefferies Financial Group

PDD (NASDAQ:PDD) had its price objective trimmed by Jefferies Financial Group from $171.00 to $156.00 in a research note released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently weighed in on PDD. Benchmark reduced their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $171.90.

PDD Trading Up 4.0 %

PDD stock opened at $130.92 on Thursday. The firm has a fifty day moving average price of $115.12 and a 200 day moving average price of $112.92. PDD has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm has a market cap of $180.13 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after purchasing an additional 97 shares during the period. Farther Finance Advisors LLC grew its stake in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after acquiring an additional 132 shares in the last quarter. New York Life Investment Management LLC grew its stake in PDD by 5.8% in the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after acquiring an additional 139 shares in the last quarter. Cibc World Markets Corp grew its stake in PDD by 1.1% in the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock worth $1,435,000 after acquiring an additional 164 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in PDD by 6.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after acquiring an additional 166 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

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.