PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives $113.31 Average Price Target from Brokerages

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 stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $113.3077.

Several equities research analysts recently weighed in on the company. Nomura lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Arete Research set a $93.00 price objective on PDD and gave the stock a “neutral” rating in a report on Monday, September 7th. Jefferies Financial Group reissued a “buy” rating on shares of PDD in a research report on Wednesday, May 27th. BNP Paribas Exane assumed coverage on shares of PDD in a report on Monday, June 15th. They set an “underperform” rating and a $89.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, September 10th.

Institutional Investors Weigh In On PDD

Several hedge funds have recently bought and sold shares of PDD. ABS Direct Equity Fund LLC grew its holdings in PDD by 13.2% in the second quarter. ABS Direct Equity Fund LLC now owns 85,772 shares of the company’s stock worth $6,543,000 after purchasing an additional 9,972 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of PDD during the second quarter valued at approximately $52,000. Nykredit A S bought a new stake in shares of PDD in the 2nd quarter worth approximately $10,042,000. Formuepleje A S bought a new stake in shares of PDD in the 2nd quarter worth approximately $947,000. Finally, Raiffeisen Bank International AG boosted its position in shares of PDD by 28.3% in the 2nd quarter. Raiffeisen Bank International AG now owns 7,294 shares of the company’s stock worth $558,000 after purchasing an additional 1,607 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

Shares of PDD opened at $79.20 on Monday. The company has a 50-day simple moving average of $84.76 and a two-hundred day simple moving average of $90.03. The firm has a market capitalization of $112.73 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.61 and a beta of -0.01. PDD has a one year low of $71.94 and a one year high of $139.41.

PDD (NASDAQ:PDD) last posted its earnings results on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%.The firm had revenue of $16.54 billion for the quarter. Analysts expect that PDD will post 10.39 EPS for the current fiscal year.

About PDD

PDD Holdings Inc is a multinational commerce group that operates technology platforms connecting consumers, merchants, producers and suppliers. The company’s businesses focus on online retail, agricultural commerce and value-oriented shopping experiences, using interactive features, data and consumer demand to support transactions and product discovery.

Its flagship platform, Pinduoduo, serves consumers in China and offers a broad selection of products, including agricultural goods, groceries, household items, apparel, electronics and other consumer merchandise.