PDD Holdings Inc. (NASDAQ:PDD) Receives Average Rating of “Moderate Buy” from Analysts

PDD Holdings Inc. (NASDAQ:PDD) has received an average rating of “Moderate Buy” from the fourteen analysts that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $174.00.

A number of research firms have weighed in on PDD. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Citigroup raised shares of PDD from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $127.00 to $165.00 in a research report on Monday. Jefferies Financial Group cut their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, March 21st.

PDD Stock Up 2.6%

PDD stock opened at $119.45 on Friday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD has a 1 year low of $87.11 and a 1 year high of $164.69. The company has a fifty day simple moving average of $109.82 and a 200 day simple moving average of $109.49. The firm has a market cap of $164.35 billion, a PE ratio of 11.67, a PEG ratio of 0.32 and a beta of 0.57.

Institutional Trading of PDD

A number of hedge funds have recently modified their holdings of the stock. Headwater Capital Co Ltd acquired a new stake in PDD in the 4th quarter worth about $9,699,000. Renaissance Technologies LLC raised its stake in PDD by 56.3% in the 4th quarter. Renaissance Technologies LLC now owns 947,500 shares of the company’s stock worth $91,898,000 after purchasing an additional 341,300 shares in the last quarter. Baillie Gifford & Co. raised its stake in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in PDD in the 4th quarter worth about $4,685,000. Finally, Alberta Investment Management Corp raised its position in shares of PDD by 12.6% in the 4th quarter. Alberta Investment Management Corp now owns 190,060 shares of the company’s stock valued at $18,434,000 after buying an additional 21,302 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

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.