Analysts Set PDD Holdings Inc. (NASDAQ:PDD) Price Target at $144.55

Shares of PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fourteen research firms that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $144.55.

PDD has been the subject of several research analyst reports. Jefferies Financial Group set a $121.00 price objective on shares of PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and raised their target price for the company from $127.00 to $165.00 in a research note on Monday, May 12th. Benchmark dropped their price target on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. JPMorgan Chase & Co. decreased their price objective on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Finally, Nomura restated a "neutral" rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th.

PDD Trading Up 1.3%

NASDAQ PDD traded up $1.32 during trading on Tuesday, hitting $99.65. The company had a trading volume of 9,798,173 shares, compared to its average volume of 11,080,299. The company's fifty day moving average is $105.88 and its 200-day moving average is $108.54. PDD has a one year low of $87.11 and a one year high of $155.67. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market cap of $138.73 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Inspire Investing LLC bought a new stake in shares of PDD during the first quarter valued at approximately $703,000. Strs Ohio purchased a new stake in PDD during the 1st quarter valued at $6,876,000. IFM Investors Pty Ltd increased its holdings in shares of PDD by 6.7% in the 1st quarter. IFM Investors Pty Ltd now owns 27,776 shares of the company's stock worth $3,287,000 after purchasing an additional 1,740 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company's stock worth $1,762,000 after purchasing an additional 395 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of PDD by 352.8% during the first quarter. Focus Partners Wealth now owns 9,939 shares of the company's stock valued at $1,176,000 after purchasing an additional 7,744 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

About PDD

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.