Weiss Ratings Reiterates Hold (C+) Rating for PDD (NASDAQ:PDD)

Key Points

• Weiss Ratings has restated its "hold (C+)" rating for PDD (NASDAQ:PDD), maintaining the stock's average rating as "Hold" with an average price target of $137.82.
• Recent analyses from multiple firms include Citigroup's "buy" rating and Macquarie's "outperform" rating with a price target of $165.00.
• PDD's stock market performance shows fluctuations, with a twelve-month low of $87.11 and a high of $145.37, currently trading at $133.77.

PDD (NASDAQ:PDD - Get Free Report)'s stock had its "hold (c+)" rating restated by investment analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research firms also recently weighed in on PDD. Citigroup reissued a "buy" rating on shares of PDD in a report on Monday, August 25th. Macquarie set a $165.00 price target on PDD and gave the stock an "outperform" rating in a report on Monday, August 25th. Barclays increased their price target on PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Jefferies Financial Group set a $146.00 price target on PDD and gave the stock a "buy" rating in a report on Monday, August 25th. Finally, Zacks Research raised PDD from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, PDD presently has an average rating of "Hold" and an average price target of $137.82.

PDD Trading Up 0.2%

PDD stock opened at $133.77 on Wednesday. The company has a market capitalization of $186.23 billion, a P/E ratio of 14.51, a PEG ratio of 1.58 and a beta of 0.40. PDD has a twelve month low of $87.11 and a twelve month high of $145.37. The business has a 50 day simple moving average of $124.11 and a 200-day simple moving average of $112.78.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new position in PDD in the first quarter worth $26,000. Westside Investment Management Inc. raised its position in PDD by 398.0% in the second quarter. Westside Investment Management Inc. now owns 249 shares of the company's stock worth $26,000 after acquiring an additional 199 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in PDD in the second quarter worth $28,000. IFP Advisors Inc raised its position in 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 in the last quarter. Finally, EMC Capital Management purchased a new position in PDD in the second quarter worth $52,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

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.

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