Brokerages Set PDD Holdings Inc. (NASDAQ:PDD) Target Price at $173.40

PDD Holdings Inc. (NASDAQ:PDD) has earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $173.40.

Several analysts have weighed in on PDD shares. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Jefferies Financial Group dropped their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Benchmark cut their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd.

PDD Stock Up 5.6 %

Shares of PDD opened at $131.34 on Monday. The business’s fifty day moving average price is $107.12 and its two-hundred day moving average price is $114.21. The firm has a market capitalization of $180.71 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.32 and a beta of 0.67. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Institutional Trading of PDD

A number of large investors have recently bought and sold shares of PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after acquiring an additional 12,253,589 shares in the last quarter. Norges Bank acquired a new position in PDD in the 4th quarter worth $812,246,000. Sanders Capital LLC bought a new position in PDD during the 4th quarter worth about $499,972,000. FMR LLC increased its holdings in PDD by 22.3% during the 4th quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after purchasing an additional 4,673,022 shares in the last quarter. Finally, H&H International Investment LLC raised its stake in shares of PDD by 3,693.8% in the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after purchasing an additional 3,804,600 shares during the period. 39.83% of the stock is owned by institutional investors.

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.