PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Stock Has Average Target Price of $110.31

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have received an average rating of “Hold” from the sixteen research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $110.31.

Several equities research analysts have commented on PDD shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $105.00 price objective on shares of PDD in a research note on Monday, August 24th. Bank of America reissued a “neutral” rating on shares of PDD in a report on Wednesday, August 26th. Weiss Ratings downgraded PDD from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Arete Research set a $93.00 target price on PDD and gave the company a “neutral” rating in a research report on Monday, September 7th. Finally, JPMorgan Chase & Co. lowered their price target on PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, September 10th.

PDD Stock Up 0.6%

PDD stock opened at $79.17 on Friday. The stock has a market capitalization of $112.69 billion, a P/E ratio of 8.67, a P/E/G ratio of 0.62 and a beta of -0.05. The firm has a 50-day simple moving average of $81.30 and a 200-day simple moving average of $86.82. PDD has a 52 week low of $71.94 and a 52 week high of $139.41.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. The firm had revenue of $16.54 billion during the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. On average, analysts expect that PDD will post 10.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Grove Bank & Trust acquired a new stake in PDD during the 2nd quarter worth $38,000. Integrated Wealth Concepts LLC acquired a new stake in shares of PDD in the second quarter valued at about $52,000. Ramsey Quantitative Systems acquired a new stake in shares of PDD in the second quarter valued at about $53,000. GK Wealth Management LLC acquired a new stake in shares of PDD in the third quarter valued at about $55,000. Finally, Sankala Group LLC purchased a new position in shares of PDD in the fourth quarter worth about $131,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Company Profile

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company’s platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings’ businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.