Brokerages Set PDD Holdings Inc. (NASDAQ:PDD) Price Target at $169.91

PDD Holdings Inc. (NASDAQ:PDD) has earned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $174.00.

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

PDD Trading Up 2.6%

Shares of PDD stock opened at $119.45 on Friday. The firm has a market capitalization of $164.35 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. 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 firm’s 50 day moving average is $109.82 and its 200 day moving average is $109.49. PDD has a 1 year low of $87.11 and a 1 year high of $164.69.

Institutional Investors Weigh In On PDD

Large investors have recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in shares of PDD during the first quarter worth $26,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD during the fourth quarter worth $39,000. IFP Advisors Inc increased its position in shares of PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company’s stock worth $48,000 after buying an additional 290 shares during the period. Brooklyn Investment Group increased its position in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares during the period. Finally, Global Retirement Partners LLC increased its position in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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.