PDD Holdings Inc. (NASDAQ:PDD) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) have earned an average recommendation of "Moderate Buy" from the fourteen research firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $169.91.

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reduced their target price on shares of PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Nomura reiterated a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. JPMorgan Chase & Co. increased their target price on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th.

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in shares of PDD during the 1st quarter worth $26,000. Nisa Investment Advisors LLC purchased a new position in PDD during the fourth quarter valued at $39,000. IFP Advisors Inc boosted its stake in shares of PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after acquiring an additional 290 shares during the last quarter. Brooklyn Investment Group raised its holdings in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after acquiring an additional 405 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after purchasing an additional 498 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

PDD traded down $0.25 on Friday, reaching $109.65. The company had a trading volume of 3,846,632 shares, compared to its average volume of 11,163,519. The stock has a market cap of $150.86 billion, a P/E ratio of 10.71, a P/E/G ratio of 0.32 and a beta of 0.57. The company's fifty day moving average is $109.90 and its 200 day moving average is $109.55. 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 fifty-two week low of $87.11 and a fifty-two week high of $164.69.

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.