PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Stock Has Average Price Target of $107.31

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been given a consensus recommendation of “Hold” by the sixteen analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $107.31.

PDD has been the subject of a number of research analyst reports. Deutsche Bank raised PDD from a “hold” rating to a “buy” rating in a report on Thursday, October 29th. Zacks Research raised PDD from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. JPMorgan Chase & Co. dropped their price objective on PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, September 10th. Morgan Stanley downgraded PDD from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $129.00 to $90.00 in a report on Monday. Finally, Bank of America reissued a “neutral” rating on shares of PDD in a research report on Wednesday, August 26th.

PDD Trading Down 1.9%

PDD stock opened at $77.53 on Tuesday. PDD has a 12 month low of $71.94 and a 12 month high of $138.20. The business’s fifty day simple moving average is $79.45 and its two-hundred day simple moving average is $89.99. The company has a market capitalization of $110.36 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.62 and a beta of -0.03.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. The company 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, equities research analysts predict that PDD will post 10.03 EPS for the current year.

Institutional Trading of PDD

A number of large investors have recently made changes to their positions in PDD. Grove Bank & Trust bought a new position in PDD during the second quarter valued at approximately $38,000. Integrated Wealth Concepts LLC purchased a new stake in PDD in the second quarter worth approximately $52,000. Ramsey Quantitative Systems bought a new stake in PDD in the 2nd quarter worth approximately $53,000. GK Wealth Management LLC purchased a new stake in PDD during the 3rd quarter valued at $55,000. Finally, FNY Investment Advisers LLC raised its stake in PDD by 166.7% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,600 shares of the company’s stock valued at $122,000 after buying an additional 1,000 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Company Profile

PDD Holdings Inc. operates e-commerce platforms that connect consumers with merchants and other suppliers. Its businesses include Pinduoduo, a marketplace focused on China, and Temu, an international online marketplace. Pinduoduo uses interactive shopping features, including group buying, and offers products across categories such as groceries, apparel, home goods and electronics. The platform has also emphasized agricultural products, connecting farmers with consumers and other buyers. Temu serves customers in multiple markets outside China and offers a wide range of merchandise from suppliers and brands.