PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts have a mixed outlook on PDD Holdings: Fifteen firms collectively rate the stock “Hold,” with two sell ratings, seven holds, and six buys. The average 12-month price target is $117.17, above the reported opening price of $86.74.
• PDD shares declined 1.2%: The stock trades below its 200-day moving average of $93.24 and remains well below its 12-month high of $139.41, despite a reported quarterly EPS of $2.84 and revenue of $16.54 billion.
• Institutional investors and hedge funds own 39.83% of PDD’s shares, while several smaller investment firms recently increased or initiated positions in the company.

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Get Free Report) has been assigned a consensus recommendation of "Hold" from the fifteen research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $117.1667.

Several analysts have weighed in on the company. Nomura lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 28th. Jefferies Financial Group reiterated a "buy" rating on shares of PDD in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $105.00 target price on shares of PDD in a report on Monday. The Goldman Sachs Group restated a "buy" rating on shares of PDD in a research report on Thursday, May 28th. Finally, BNP Paribas Exane initiated coverage on shares of PDD in a research report on Monday, June 15th. They issued an "underperform" rating and a $89.00 price target on the stock.

PDD Trading Down 1.2%

Shares of PDD stock opened at $86.74 on Thursday. The business's 50 day moving average is $84.84 and its two-hundred day moving average is $93.24. PDD has a twelve month low of $71.94 and a twelve month high of $139.41. The company has a market capitalization of $123.47 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 0.71 and a beta of 0.02.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported $2.84 EPS for the quarter. PDD had a net margin of 20.73% and a return on equity of 23.00%. The firm had revenue of $16.54 billion during the quarter. As a group, equities analysts predict that PDD will post 9.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PDD

Hedge funds have recently made changes to their positions in the business. Binnacle Investments Inc increased its stake in PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company's stock worth $36,000 after acquiring an additional 200 shares during the last quarter. Grove Bank & Trust purchased a new stake in shares of PDD during the 2nd quarter worth about $38,000. Smartleaf Asset Management LLC increased its position in PDD by 230.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company's stock worth $43,000 after purchasing an additional 263 shares in the last quarter. Wexford Capital LP acquired a new stake in PDD during the 3rd quarter worth approximately $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in PDD in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Company Profile

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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