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

PDD Holdings Inc. (NASDAQ:PDD) has been given an average rating of “Moderate Buy” by the fourteen analysts that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $169.91.

PDD has been the topic of several recent research reports. Nomura restated a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Citigroup reissued a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Nomura Securities lowered 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 PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PDD. Headwater Capital Co Ltd purchased a new position in PDD during the 4th quarter worth approximately $9,699,000. Carolina Wealth Advisors LLC raised its position in shares of PDD by 347.1% during the 4th quarter. Carolina Wealth Advisors LLC now owns 2,173 shares of the company’s stock worth $211,000 after purchasing an additional 1,687 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of PDD by 5.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,430 shares of the company’s stock valued at $721,000 after acquiring an additional 400 shares during the last quarter. Sicart Associates LLC raised its stake in PDD by 8.2% in the 4th quarter. Sicart Associates LLC now owns 10,116 shares of the company’s stock valued at $981,000 after purchasing an additional 767 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its stake in shares of PDD by 3.1% in the fourth quarter. Ritholtz Wealth Management now owns 13,894 shares of the company’s stock worth $1,348,000 after buying an additional 414 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of NASDAQ:PDD opened at $109.97 on Friday. The company has a market capitalization of $151.31 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The company’s 50-day moving average is $109.98 and its 200 day moving average is $109.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD has a fifty-two week low of $87.11 and a fifty-two week high of $164.69.

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.