PDD Holdings Inc. (NASDAQ:PDD) Receives $169.91 Average Target Price from Analysts

Shares of PDD Holdings Inc. (NASDAQ:PDD) have been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $169.91.

A number of analysts recently issued reports on the company. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Citigroup reiterated a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Nomura restated a “neutral” rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. upped their price objective on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Finally, Benchmark reissued a “buy” rating and set a $160.00 target price on shares of PDD in a research report on Friday, March 21st.

Institutional Trading of PDD

A number of institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. increased its position in PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after buying an additional 1,942,891 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of PDD by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock valued at $2,779,986,000 after acquiring an additional 268,662 shares in the last quarter. FMR LLC raised its position in shares of PDD by 22.3% in the 4th quarter. FMR LLC now owns 25,603,183 shares of the company’s stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares during the last quarter. Norges Bank acquired a new stake in PDD in the 4th quarter worth approximately $812,246,000. Finally, FIL Ltd grew its position in PDD by 72.4% during the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock worth $773,847,000 after purchasing an additional 3,350,627 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $93.69 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market cap of $128.91 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The firm has a 50-day moving average of $114.56 and a two-hundred day moving average of $113.06. PDD has a 1 year low of $87.11 and a 1 year high of $164.69.

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.