PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives $117.17 Average Target Price from Analysts

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been assigned an average rating of “Hold” from the fifteen brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $117.1667.

PDD has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $105.00 target price on shares of PDD in a research report on Monday, August 24th. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Morgan Stanley set a $129.00 price objective on shares of PDD in a research report on Wednesday, May 27th. Zacks Research upgraded PDD from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Citigroup reduced their target price on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its holdings in shares of PDD by 5,977.1% in the second quarter. California State Teachers Retirement System now owns 22,016,773 shares of the company’s stock worth $1,679,439,000 after acquiring an additional 21,654,483 shares during the last quarter. Norges Bank bought a new stake in shares of PDD during the 4th quarter valued at approximately $1,065,446,000. H&H International Investment LLC increased its position in PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after purchasing an additional 8,211,600 shares in the last quarter. Himalaya Capital Management LLC acquired a new position in PDD during the 2nd quarter worth approximately $482,273,000. Finally, Dodge & Cox bought a new position in PDD in the 4th quarter valued at approximately $503,429,000. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $82.25 on Thursday. The stock’s fifty day moving average price is $85.44 and its two-hundred day moving average price is $92.52. PDD has a one year low of $71.94 and a one year high of $139.41. The firm has a market cap of $117.07 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 0.63 and a beta of -0.01.

PDD (NASDAQ:PDD) last released its earnings results on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. The firm had revenue of $16.54 billion during the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%. Sell-side analysts expect that PDD will post 10.5 earnings per share for the current fiscal year.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.