Brokerages Set PDD Holdings Inc. (NASDAQ:PDD) Target Price at $173.40

Shares of PDD Holdings Inc. (NASDAQ:PDD) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $173.40.

A number of equities research analysts recently weighed in on PDD shares. Jefferies Financial Group decreased their price objective on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark lowered their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Macquarie raised PDD from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $126.00 to $224.00 in a research report on Monday, October 7th.

Institutional Investors Weigh In On PDD

Large investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of PDD by 1,374.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after acquiring an additional 12,253,589 shares during the last quarter. H&H International Investment LLC boosted its holdings in PDD by 3,693.8% in the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after purchasing an additional 3,804,600 shares during the last quarter. Acadian Asset Management LLC grew its position in PDD by 107.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock worth $487,984,000 after purchasing an additional 1,904,155 shares during the period. Tairen Capital Ltd raised its stake in shares of PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock valued at $715,055,000 after buying an additional 1,788,076 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of PDD by 8.6% in the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after buying an additional 1,654,764 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Down 0.1 %

PDD stock opened at $96.82 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market cap of $133.21 billion, a P/E ratio of 9.46, a P/E/G ratio of 0.29 and a beta of 0.66. The business has a fifty day moving average of $106.90 and a two-hundred day moving average of $120.10. PDD has a twelve month low of $88.01 and a twelve month high of $164.69.

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.