PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• PDD Holdings Inc. has received an average analyst rating of "Moderate Buy" from 14 research firms, with varying recommendations among buy, hold, and strong buy.
• The average price target for PDD shares among analysts is $137.82, with notable adjustments from firms like Bank of America increasing it to $141.00.
• Institutional investors control 39.83% of PDD shares, with significant increases in holdings reported, including a 78.3% boost by Krane Funds Advisors LLC in Q1.

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Get Free Report) has been given an average rating of "Moderate Buy" by the fourteen research firms that are currently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $137.8182.

Several analysts recently commented on PDD shares. JPMorgan Chase & Co. reduced their target price on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. China Renaissance restated a "hold" rating and set a $107.00 price objective on shares of PDD in a report on Wednesday, May 28th. Bank of America increased their target price on PDD from $120.00 to $141.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $112.00 price target on shares of PDD in a research note on Wednesday, May 28th. Finally, Benchmark reiterated a "buy" rating and set a $160.00 price objective (up previously from $128.00) on shares of PDD in a research report on Tuesday, August 26th.

Institutional Trading of PDD

A number of institutional investors have recently bought and sold shares of PDD. Krane Funds Advisors LLC increased its holdings in shares of PDD by 78.3% during the first quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock worth $596,057,000 after purchasing an additional 2,211,286 shares during the period. Myriad Asset Management US LP bought a new position in PDD during the 1st quarter worth $4,496,000. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in PDD by 4,562.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after acquiring an additional 14,110,042 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in shares of PDD by 54.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 26,216 shares of the company's stock valued at $3,103,000 after acquiring an additional 9,206 shares during the period. Finally, Banco BTG Pactual S.A. acquired a new stake in shares of PDD during the 1st quarter worth $537,000. Institutional investors own 39.83% of the company's stock.

PDD Price Performance

PDD stock opened at $124.68 on Thursday. PDD has a one year low of $87.11 and a one year high of $155.67. The stock has a market cap of $173.57 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.49 and a beta of 0.46. The company has a fifty day moving average price of $115.46 and a two-hundred day moving average price of $111.30.

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.

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