Analysts Set PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Price Target at $140.27

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have received a consensus rating of “Hold” from the fifteen analysts that are covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $140.2667.

PDD has been the topic of several recent research reports. Citigroup restated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Morgan Stanley set a $148.00 target price on shares of PDD in a research note on Thursday, January 15th. Loop Capital set a $170.00 target price on shares of PDD in a report on Tuesday, January 6th. Finally, Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target for the company in a research note on Friday, March 27th.

PDD Trading Down 0.4%

PDD opened at $101.78 on Monday. The stock has a 50-day moving average of $102.59 and a 200 day moving average of $115.91. PDD has a 12 month low of $87.11 and a 12 month high of $139.41. The firm has a market cap of $141.69 billion, a P/E ratio of 10.83, a P/E/G ratio of 0.96 and a beta of -0.01.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. MY.Alpha Management HK Advisors Ltd purchased a new stake in shares of PDD in the fourth quarter worth approximately $16,471,000. Sankala Group LLC purchased a new position in PDD during the 4th quarter valued at $131,000. Pacer Advisors Inc. grew its position in PDD by 4.2% in the 4th quarter. Pacer Advisors Inc. now owns 48,488 shares of the company’s stock valued at $5,498,000 after acquiring an additional 1,964 shares during the last quarter. Virtu Financial LLC bought a new position in PDD in the 4th quarter valued at $2,079,000. Finally, Kovitz Investment Group Partners LLC purchased a new stake in PDD in the fourth quarter worth $1,003,000. Institutional investors own 39.83% of the company’s stock.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.