Brokerages Set PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Price Target at $124.64

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Get Free Report) have earned an average rating of “Hold” from the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $124.6429.

A number of analysts have commented on PDD shares. The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Zacks Research cut shares of PDD from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Morgan Stanley set a $129.00 target price on shares of PDD in a research note on Wednesday, May 27th. Finally, BNP Paribas Exane initiated coverage on PDD in a report on Monday, June 15th. They set an “underperform” rating and a $89.00 price target for the company.

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Institutional Trading of PDD

A number of hedge funds have recently made changes to their positions in PDD. Ramsey Quantitative Systems bought a new position in shares of PDD during the 2nd quarter worth approximately $53,000. Wasatch Advisors LP acquired a new position in shares of PDD during the 2nd quarter worth approximately $3,658,000. Handelsbanken Fonder AB raised its stake in PDD by 9.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 415,029 shares of the company’s stock valued at $31,658,000 after acquiring an additional 34,750 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in PDD by 31.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 7,407 shares of the company’s stock valued at $565,000 after acquiring an additional 1,751 shares during the period. Finally, FNY Investment Advisers LLC lifted its holdings in PDD by 166.7% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,600 shares of the company’s stock valued at $122,000 after purchasing an additional 1,000 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Up 1.0%

PDD opened at $91.03 on Friday. PDD has a 12 month low of $71.94 and a 12 month high of $139.41. The company has a fifty day simple moving average of $83.26 and a 200 day simple moving average of $95.04. The stock has a market cap of $129.57 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.73 and a beta of 0.02.

PDD (NASDAQ:PDD – Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). PDD had a return on equity of 24.32% and a net margin of 21.86%.The business had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same period in the previous year, the business posted $1.57 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that PDD will post 9.7 earnings per share for the current fiscal year.

PDD Company Profile

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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.

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