Brokerages Set PDD Holdings Inc. (NASDAQ:PDD) PT at $171.90

Shares of PDD Holdings Inc. (NASDAQ:PDD) have been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $169.91.

PDD has been the topic of a number of research analyst reports. Nomura reaffirmed a “neutral” rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Benchmark reaffirmed a “buy” rating and set a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Finally, Jefferies Financial Group decreased their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PDD. Prospera Private Wealth LLC acquired a new stake in shares of PDD in the third quarter valued at approximately $27,000. Nisa Investment Advisors LLC acquired a new position in shares of PDD in the fourth quarter valued at approximately $39,000. Avior Wealth Management LLC increased its holdings in PDD by 50.9% during the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after purchasing an additional 169 shares in the last quarter. Brooklyn Investment Group raised its position 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 buying an additional 405 shares during the last quarter. Finally, Global Retirement Partners LLC raised 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 last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

NASDAQ PDD opened at $122.47 on Thursday. The company has a market cap of $168.50 billion, a P/E ratio of 11.96, a P/E/G ratio of 0.32 and a beta of 0.69. PDD has a 1 year low of $88.01 and a 1 year high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $117.38 and a 200 day simple moving average of $113.92.

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.