PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• PDD Holdings has a consensus “Hold” rating from 16 analysts: nine rate it a hold, five a buy and two a sell. The average 12-month price target is $110.31, though several firms recently lowered their targets.
• Institutional investors and hedge funds own 39.83% of PDD, with several major investors substantially increasing their positions.
• PDD shares opened at $82.42, near their 50-day average of $82.23 and below their 200-day average of $87.54. The stock has traded between $71.94 and $139.41 over the past year, while the company recently reported $2.84 in quarterly EPS and $16.54 billion in revenue.

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Get Free Report) has received a consensus rating of "Hold" from the sixteen analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $110.31.

A number of research analysts recently commented on the company. Bank of America restated a "neutral" rating on shares of PDD in a research report on Wednesday, August 26th. Zacks Research upgraded shares of PDD from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. JPMorgan Chase & Co. decreased their target price on shares of PDD from $110.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, September 10th. Benchmark decreased their target price on shares of PDD from $127.00 to $114.00 and set a "buy" rating on the stock in a report on Tuesday, August 25th. Finally, Daiwa Securities Group restated a "hold" rating and issued a $80.00 target price on shares of PDD in a research report on Tuesday, June 23rd.

Institutional Trading of PDD

Large investors have recently made changes to their positions in the company. H&H International Investment LLC lifted its stake in PDD by 71.2% during the first 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. SG Americas Securities LLC boosted its holdings in shares of PDD by 94.6% in the 1st quarter. SG Americas Securities LLC now owns 6,301,820 shares of the company's stock valued at $643,920,000 after purchasing an additional 3,063,694 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of PDD in the 3rd quarter valued at $202,907,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of PDD by 126.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,609,370 shares of the company's stock valued at $164,445,000 after purchasing an additional 898,639 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of PDD by 306.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,112,700 shares of the company's stock worth $113,696,000 after buying an additional 838,800 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Price Performance

Shares of NASDAQ:PDD opened at $82.42 on Friday. The business's 50 day simple moving average is $82.23 and its 200 day simple moving average is $87.54. PDD has a 1 year low of $71.94 and a 1 year high of $139.41. The company has a market capitalization of $117.32 billion, a P/E ratio of 9.08, a P/E/G ratio of 0.64 and a beta of -0.05.

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

About PDD

PDD Holdings Inc NASDAQ: PDD is a multinational commerce group that operates online marketplaces connecting consumers, merchants, brands and agricultural producers. Its platforms use interactive shopping features, product discovery tools and technology-driven recommendations to support value-focused purchasing across a broad range of product categories.

The company's principal platforms are Pinduoduo and Temu. Pinduoduo primarily serves consumers and merchants in China, offering products that include agricultural goods, groceries, household items, apparel, electronics and other consumer merchandise.

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