PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Stock Has Consensus Price Target of $107.31 According to Analysts

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have been given a consensus recommendation of “Hold” by the sixteen ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $107.31.

PDD has been the topic of several research reports. 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. Zacks Research upgraded PDD from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Benchmark decreased their price objective on PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a report on Tuesday, August 25th. Weiss Ratings lowered PDD from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Finally, Deutsche Bank upgraded PDD from a “hold” rating to a “buy” rating in a research report on Thursday, October 29th.

PDD Stock Performance

Shares of NASDAQ:PDD traded up $1.44 on Tuesday, hitting $78.97. 3,726,646 shares of the company were exchanged, compared to its average volume of 5,647,168. The company’s 50 day moving average price is $79.40 and its two-hundred day moving average price is $89.85. PDD has a one year low of $71.94 and a one year high of $132.43. The firm has a market capitalization of $112.41 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 0.61 and a beta of -0.03.

PDD (NASDAQ:PDD) last released its earnings results on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. The business had revenue of $16.54 billion during the quarter. Research analysts predict that PDD will post 10.03 earnings per share for the current year.

Institutional Investors Weigh In On PDD

A number of institutional investors have recently bought and sold shares of PDD. H&H International Investment LLC increased its position in shares of PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after purchasing an additional 8,211,600 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in PDD during the 3rd quarter valued at about $202,907,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in PDD by 126.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,609,370 shares of the company’s stock valued at $164,445,000 after purchasing an additional 898,639 shares during the last quarter. Renaissance Technologies LLC boosted its position in PDD by 306.2% in the first quarter. Renaissance Technologies LLC now owns 1,112,700 shares of the company’s stock valued at $113,696,000 after buying an additional 838,800 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in PDD by 40.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,121,534 shares of the company’s stock worth $87,412,000 after buying an additional 325,066 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

About PDD

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.