PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives Average Rating of “Hold” from Brokerages

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been given a consensus rating of “Hold” by the fifteen research firms that are covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $137.8182.

Several research analysts have commented on PDD shares. Benchmark reaffirmed a “buy” rating and issued a $160.00 price target (up from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Zacks Research raised PDD from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 29th. Macquarie set a $165.00 price target on PDD and gave the stock an “outperform” rating in a research report on Monday, August 25th. Jefferies Financial Group set a $146.00 price target on PDD and gave the stock a “buy” rating in a research report on Monday, August 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th.

Hedge Funds Weigh In On PDD

A number of institutional investors and hedge funds have recently bought and sold shares of PDD. Baillie Gifford & Co. lifted its stake in shares of PDD by 5.2% during the first quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company’s stock valued at $4,739,595,000 after acquiring an additional 1,987,935 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of PDD by 9,469.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company’s stock valued at $4,695,948,000 after acquiring an additional 39,263,851 shares during the period. Vanguard Group Inc. lifted its stake in shares of PDD by 10.2% during the second quarter. Vanguard Group Inc. now owns 32,035,725 shares of the company’s stock valued at $3,352,859,000 after acquiring an additional 2,956,249 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of PDD by 4,562.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock valued at $1,706,527,000 after acquiring an additional 14,110,042 shares during the period. Finally, Norges Bank acquired a new position in shares of PDD during the second quarter valued at $962,785,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

PDD opened at $124.27 on Monday. The business has a 50 day moving average price of $124.75 and a 200 day moving average price of $112.64. The firm has a market cap of $173.00 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.47 and a beta of 0.40. PDD has a twelve month low of $87.11 and a twelve month high of $145.37.

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.