Analysts Set PDD Holdings Inc. (NASDAQ:PDD) Price Target at $171.90

PDD Holdings Inc. (NASDAQ:PDD) has earned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $169.91.

PDD has been the subject of a number of research analyst reports. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Nomura restated a “neutral” rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. upped 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. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Thursday, March 20th.

PDD Trading Down 2.2 %

Shares of NASDAQ:PDD opened at $122.47 on Thursday. The company has a 50 day moving average of $117.38 and a 200-day moving average of $113.92. 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 has a market cap of $168.50 billion, a P/E ratio of 11.96, a P/E/G ratio of 0.32 and a beta of 0.69. PDD has a twelve month low of $88.01 and a twelve month high of $164.69.

Institutional Investors Weigh In On PDD

Institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares during the period. Norges Bank purchased a new position in shares of PDD during the 4th quarter valued at $812,246,000. Sanders Capital LLC acquired a new position in shares of PDD in the fourth quarter worth $499,972,000. FMR LLC raised its holdings in shares of PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after acquiring an additional 4,673,022 shares in the last quarter. Finally, H&H International Investment LLC raised its stake in shares of PDD by 3,693.8% during the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after purchasing an additional 3,804,600 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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.