PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives $137.50 Average Price Target from Analysts

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been given a consensus recommendation of “Hold” by the fifteen analysts that are covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $137.50.

A number of research firms have recently weighed in on PDD. Wall Street Zen upgraded PDD from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Jefferies Financial Group set a $146.00 price target on PDD and gave the company a “buy” rating in a research note on Monday, August 25th. New Street Research cut shares of PDD from a “buy” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Tuesday, August 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein set a $135.00 target price on shares of PDD in a research report on Tuesday, November 18th.

PDD Trading Up 1.6%

Shares of PDD stock opened at $115.80 on Tuesday. The stock has a market cap of $161.21 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47. PDD has a 1 year low of $87.11 and a 1 year high of $139.41. The stock has a 50 day simple moving average of $129.81 and a 200 day simple moving average of $118.70.

Institutional Investors Weigh In On PDD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. bought a new position in shares of PDD in the 3rd quarter valued at $3,232,000. Yunqi Capital Ltd boosted its stake in PDD by 37.9% in the third quarter. Yunqi Capital Ltd now owns 144,800 shares of the company’s stock valued at $19,138,000 after buying an additional 39,800 shares in the last quarter. EMC Capital Management boosted its stake in PDD by 100.0% in the third quarter. EMC Capital Management now owns 1,000 shares of the company’s stock valued at $132,000 after buying an additional 500 shares in the last quarter. First Affirmative Financial Network grew its position in PDD by 10.8% in the third quarter. First Affirmative Financial Network now owns 2,362 shares of the company’s stock valued at $312,000 after acquiring an additional 231 shares during the last quarter. Finally, Danske Bank A S acquired a new position in PDD during the third quarter worth about $14,236,000. 39.83% of the stock is currently 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.