Brokerages Set PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) PT at $137.82

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been given an average recommendation of “Hold” by the fifteen analysts that are covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $137.8182.

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Citigroup reissued a “buy” rating on shares of PDD in a research note on Monday, August 25th. Barclays boosted their target price on shares of PDD from $158.00 to $165.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Benchmark reissued a “buy” rating and issued a $160.00 target price (up previously from $128.00) on shares of PDD in a research note on Tuesday, August 26th. Finally, Jefferies Financial Group set a $146.00 target price on shares of PDD and gave the company a “buy” rating in a research note on Monday, August 25th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new position in shares of PDD during the 1st quarter valued at about $26,000. Westside Investment Management Inc. increased its stake in shares of PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after acquiring an additional 199 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of PDD during the 2nd quarter valued at about $28,000. IFP Advisors Inc increased its stake in shares of PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company’s stock valued at $48,000 after acquiring an additional 290 shares during the last quarter. Finally, EMC Capital Management acquired a new position in shares of PDD during the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Down 0.8%

NASDAQ:PDD opened at $134.87 on Friday. The company has a market capitalization of $187.76 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.59 and a beta of 0.47. PDD has a 52-week low of $87.11 and a 52-week high of $139.41. The stock has a fifty day simple moving average of $129.35 and a 200-day simple moving average of $115.89.

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.