PDD (NASDAQ:PDD) PT Set at $121.00 by Jefferies Financial Group

PDD (NASDAQ:PDD) has been assigned a $121.00 price target by analysts at Jefferies Financial Group in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 23.62% from the company’s current price.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Citigroup raised PDD from a “neutral” rating to a “buy” rating and raised their target price for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Benchmark reaffirmed a “buy” rating and set a $160.00 target price on shares of PDD in a report on Friday, March 21st. Nomura reaffirmed a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Finally, Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.55.

PDD Stock Down 5.0%

NASDAQ:PDD opened at $97.88 on Tuesday. The firm has a market capitalization of $136.26 billion, a P/E ratio of 9.56, a PEG ratio of 0.32 and a beta of 0.57. PDD has a 1-year low of $87.11 and a 1-year high of $155.67. The company’s fifty day moving average price is $108.09 and its 200-day moving average price is $109.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Institutional Investors Weigh In On PDD

A number of institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its stake in PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after acquiring an additional 97 shares during the period. Signaturefd LLC grew its position in shares of PDD by 1.3% in the first quarter. Signaturefd LLC now owns 8,957 shares of the company’s stock valued at $1,060,000 after purchasing an additional 119 shares during the period. Farther Finance Advisors LLC grew its position in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares during the period. Focus Financial Network Inc. grew its position in shares of PDD by 6.3% in the first quarter. Focus Financial Network Inc. now owns 2,279 shares of the company’s stock valued at $270,000 after purchasing an additional 136 shares during the period. Finally, New York Life Investment Management LLC grew its position in shares of PDD by 5.8% in the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

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.