Jefferies Financial Group Reiterates "$121.00" Price Target for PDD (NASDAQ:PDD)

PDD (NASDAQ:PDD - Get Free Report) has been given a $121.00 price target by equities researchers at Jefferies Financial Group in a report issued on Tuesday, Marketbeat.com reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price target would indicate a potential upside of 25.09% from the company's current price.

PDD has been the subject of a number of other research reports. Nomura reiterated a "neutral" rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and increased their price target for the company from $127.00 to $165.00 in a research report on Monday, May 12th. JPMorgan Chase & Co. increased their price target on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Trading Down 1.6%

Shares of NASDAQ:PDD traded down $1.56 during midday trading on Tuesday, reaching $96.73. The company had a trading volume of 17,167,316 shares, compared to its average volume of 11,094,873. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD has a 1-year low of $87.11 and a 1-year high of $155.67. The firm has a market cap of $134.66 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The company has a fifty day simple moving average of $106.92 and a two-hundred day simple moving average of $108.79.

Institutional Investors Weigh In On PDD

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in shares of PDD by 56.3% during the 4th quarter. Renaissance Technologies LLC now owns 947,500 shares of the company's stock worth $91,898,000 after purchasing an additional 341,300 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of PDD during the 4th quarter worth about $4,685,000. Alberta Investment Management Corp raised its stake in shares of PDD by 12.6% during the 4th quarter. Alberta Investment Management Corp now owns 190,060 shares of the company's stock worth $18,434,000 after purchasing an additional 21,302 shares in the last quarter. Finally, Synergy Asset Management LLC raised its stake in shares of PDD by 138.8% during the 4th quarter. Synergy Asset Management LLC now owns 205,740 shares of the company's stock worth $19,955,000 after purchasing an additional 119,580 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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.