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

Key Points

• Analysts have a consensus “Hold” rating on PDD Holdings, with 10 hold, five buy and one sell recommendation. The average 12-month price target is $113.31.
• PDD shares opened at $78.90, versus a 12-month range of $71.94 to $139.41. The company recently reported quarterly earnings of $2.84 per share on $16.54 billion in revenue, with a 20.73% net margin.
• Institutional investors and hedge funds own 39.83% of PDD, with several major investors—including H&H International Investment and SG Americas Securities—recently increasing their stakes.

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Get Free Report) have been assigned a consensus recommendation of "Hold" from the sixteen brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $113.3077.

PDD has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $105.00 price target on shares of PDD in a research note on Monday, August 24th. Nomura lowered PDD from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 28th. Jefferies Financial Group restated a "buy" rating on shares of PDD in a report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of PDD in a research report on Thursday, May 28th. Finally, Daiwa Securities Group reiterated a "hold" rating and set a $80.00 target price on shares of PDD in a research note on Tuesday, June 23rd.

PDD Price Performance

PDD stock opened at $78.90 on Monday. PDD has a 12-month low of $71.94 and a 12-month high of $139.41. The company has a market capitalization of $112.31 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 0.60 and a beta of -0.01. The firm's fifty day moving average price is $85.06 and its 200 day moving average price is $90.48.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. The company had revenue of $16.54 billion during the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. Analysts forecast that PDD will post 10.39 earnings per share for the current fiscal year.

Institutional Trading of PDD

Several institutional investors have recently added to or reduced their stakes in the stock. H&H International Investment LLC increased its position in shares of PDD by 71.2% in the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company's stock worth $2,017,881,000 after purchasing an additional 8,211,600 shares during the last quarter. Norges Bank acquired a new stake in shares of PDD in the 4th quarter valued at about $1,065,446,000. Geode Capital Management LLC lifted its position in shares of PDD by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company's stock worth $761,720,000 after purchasing an additional 359,921 shares during the last quarter. Krane Funds Advisors LLC lifted its position in shares of PDD by 4.2% during the fourth quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company's stock worth $725,465,000 after purchasing an additional 258,888 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in PDD by 94.6% in the first quarter. SG Americas Securities LLC now owns 6,301,820 shares of the company's stock worth $643,920,000 after purchasing an additional 3,063,694 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

About PDD

PDD Holdings Inc is a multinational commerce group that operates technology platforms connecting consumers, merchants, producers and suppliers. The company's businesses focus on online retail, agricultural commerce and value-oriented shopping experiences, using interactive features, data and consumer demand to support transactions and product discovery.

Its flagship platform, Pinduoduo, serves consumers in China and offers a broad selection of products, including agricultural goods, groceries, household items, apparel, electronics and other consumer merchandise.

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