PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Stock Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts collectively rate PDD “Hold”: Of 16 covering brokerages, 10 have a hold rating, five recommend buying, and one recommends selling. Their average one-year price target is $107.31.
• Several firms have recently turned more cautious: JPMorgan lowered its target to $95 and Arete cut its rating from buy to neutral with a $93 target. Benchmark also reduced its target, to $114, while retaining a buy rating.
• PDD opened at $80.50, within its 52-week range of $71.94–$139.12. Its latest reported quarter included EPS of $2.84 and revenue of $16.54 billion.

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Get Free Report) has been assigned an average rating of "Hold" from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $107.31.

A number of research firms have recently weighed in on PDD. JPMorgan Chase & Co. cut their price target on PDD from $110.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, September 10th. Arete Research lowered PDD from a "buy" rating to a "neutral" rating and set a $93.00 price objective for the company. in a report on Monday, September 7th. Zacks Research upgraded PDD from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Benchmark cut their target price on PDD from $127.00 to $114.00 and set a "buy" rating on the stock in a research note on Tuesday, August 25th. Finally, Weiss Ratings upgraded PDD from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, October 27th.

PDD Stock Down 3.0%

PDD stock opened at $80.50 on Tuesday. PDD has a fifty-two week low of $71.94 and a fifty-two week high of $139.12. The firm's 50-day simple moving average is $79.72 and its 200 day simple moving average is $90.41. The stock has a market cap of $114.58 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 0.65 and a beta of -0.03.

PDD (NASDAQ:PDD - Get Free Report) last posted its earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. The firm had revenue of $16.54 billion during the quarter. Equities analysts forecast that PDD will post 10.02 EPS for the current fiscal year.

Institutional Investors Weigh In On PDD

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Grove Bank & Trust bought a new position in PDD in the 2nd quarter valued at about $38,000. Integrated Wealth Concepts LLC bought a new stake in shares of PDD during the 2nd quarter worth about $52,000. Ramsey Quantitative Systems bought a new stake in shares of PDD during the 2nd quarter worth about $53,000. GK Wealth Management LLC bought a new stake in shares of PDD during the 3rd quarter worth about $55,000. Finally, FNY Investment Advisers LLC lifted its stake in shares of PDD by 166.7% in the 2nd quarter. FNY Investment Advisers LLC now owns 1,600 shares of the company's stock worth $122,000 after acquiring an additional 1,000 shares during the period. 39.83% of the stock is currently owned by institutional investors.

About PDD

PDD Holdings Inc operates e-commerce platforms that connect consumers with merchants and other suppliers. Its businesses include Pinduoduo, a marketplace focused on China, and Temu, an international online marketplace.

Pinduoduo uses interactive shopping features, including group buying, and offers products across categories such as groceries, apparel, home goods and electronics. The platform has also emphasized agricultural products, connecting farmers with consumers and other buyers.

Temu serves customers in multiple markets outside China and offers a wide range of merchandise from suppliers and brands.

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