Analysts Set PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Price Target at $137.82

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has received a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $137.8182.

A number of research analysts have issued reports on PDD shares. Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Citigroup restated a “buy” rating on shares of PDD in a report on Monday, August 25th. New Street Research lowered PDD from a “buy” rating to a “neutral” rating and set a $120.00 price target for the company. in a research report on Tuesday, August 26th. Macquarie set a $165.00 price target on shares of PDD and gave the stock an “outperform” rating in a research note on Monday, August 25th. Finally, Bank of America increased their price objective on shares of PDD from $120.00 to $141.00 and gave the company a “neutral” rating in a research report on Tuesday, August 26th.

Institutional Investors Weigh In On PDD

Institutional investors and hedge funds have recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd lifted its position in PDD by 4,562.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock valued at $1,706,527,000 after acquiring an additional 14,110,042 shares in the last quarter. Norges Bank bought a new stake in shares of PDD in the 2nd quarter worth $962,785,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of PDD by 899.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company’s stock worth $1,063,489,000 after purchasing an additional 8,086,620 shares during the last quarter. Himalaya Capital Management LLC purchased a new position in shares of PDD in the second quarter worth $482,273,000. Finally, Hhlr Advisors LTD. lifted its holdings in shares of PDD by 140.4% during the first quarter. Hhlr Advisors LTD. now owns 6,562,576 shares of the company’s stock valued at $776,681,000 after purchasing an additional 3,832,301 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

PDD stock opened at $133.84 on Friday. The firm has a 50 day moving average price of $129.68 and a 200-day moving average price of $116.46. PDD has a 52-week low of $87.11 and a 52-week high of $139.41. The firm has a market capitalization of $186.33 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.59 and a beta of 0.47.

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.