PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

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.

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fourteen ratings firms that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $137.8182.

Several research firms have recently weighed in on PDD. Zacks Research raised shares of PDD from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 29th. Barclays boosted their target price on shares of PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. dropped their target price on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Bank of America boosted their price objective on shares of PDD from $120.00 to $141.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Finally, Jefferies Financial Group set a $146.00 price objective on shares of PDD and gave the company a "buy" rating in a research report on Monday, August 25th.

Institutional Investors Weigh In On PDD

A number of institutional investors have recently modified their holdings of PDD. Mirae Asset Global Investments Co. Ltd. grew its position in shares of PDD by 9,469.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock valued at $4,695,948,000 after buying an additional 39,263,851 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of PDD by 4,562.1% during 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 buying an additional 14,110,042 shares during the last quarter. Norges Bank bought a new stake in shares of PDD during the 2nd quarter valued at about $962,785,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of PDD by 899.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company's stock valued at $1,063,489,000 after buying an additional 8,086,620 shares during the last quarter. Finally, Himalaya Capital Management LLC bought a new position in PDD in the 2nd quarter worth about $482,273,000. Institutional investors own 39.83% of the company's stock.

PDD Stock Up 1.6%

Shares of PDD traded up $1.95 during midday trading on Thursday, hitting $127.39. The company had a trading volume of 12,326,244 shares, compared to its average volume of 9,884,136. The company's 50 day moving average price is $116.79 and its 200 day moving average price is $111.37. The stock has a market cap of $177.35 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.48 and a beta of 0.46. PDD has a 52 week low of $87.11 and a 52 week high of $155.67.

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.