Deutsche Bank Aktiengesellschaft Reiterates Hold Rating for PDD (NASDAQ:PDD)

PDD (NASDAQ:PDD - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at Deutsche Bank Aktiengesellschaft in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a $112.00 price target on the stock. Deutsche Bank Aktiengesellschaft's price target points to a potential upside of 15.79% from the company's previous close.

Other research analysts have also issued reports about the stock. Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $127.00 to $165.00 in a research note on Monday, May 12th. China Renaissance restated a "hold" rating and issued a $107.00 price objective on shares of PDD in a research note on Wednesday. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and an average price target of $144.55.

PDD Stock Performance

PDD traded down $1.56 on Wednesday, reaching $96.73. The company had a trading volume of 17,167,316 shares, compared to its average volume of 11,094,871. PDD has a 1 year low of $87.11 and a 1 year high of $155.67. The stock has a market capitalization of $134.66 billion, a PE ratio of 9.45, a P/E/G ratio of 0.32 and a beta of 0.57. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $107.49 and a 200-day moving average price of $108.91.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in PDD during the first quarter worth about $6,876,000. IFM Investors Pty Ltd grew its position in PDD by 6.7% during the first quarter. IFM Investors Pty Ltd now owns 27,776 shares of the company's stock worth $3,287,000 after buying an additional 1,740 shares during the period. Intech Investment Management LLC grew its position in PDD by 2.7% during the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company's stock worth $1,762,000 after buying an additional 395 shares during the period. Focus Partners Wealth grew its position in PDD by 352.8% during the first quarter. Focus Partners Wealth now owns 9,939 shares of the company's stock worth $1,176,000 after buying an additional 7,744 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in PDD by 899.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company's stock worth $1,063,489,000 after buying an additional 8,086,620 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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.