PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives Consensus Rating of “Hold” from Brokerages

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have been assigned a consensus recommendation of “Hold” from the sixteen research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $124.6429.

PDD has been the subject of several research analyst reports. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Friday, April 17th. Morgan Stanley set a $129.00 price objective on PDD in a research note on Wednesday, May 27th. Citigroup decreased their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. BNP Paribas Exane assumed coverage on PDD in a report on Monday, June 15th. They issued an “underperform” rating and a $89.00 target price for the company. Finally, Jefferies Financial Group reissued a “buy” rating on shares of PDD in a research report on Wednesday, May 27th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ramsey Quantitative Systems purchased a new stake in shares of PDD in the 2nd quarter worth approximately $53,000. Wasatch Advisors LP purchased a new stake in PDD during the second quarter worth $3,658,000. Handelsbanken Fonder AB boosted its position in PDD by 9.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 415,029 shares of the company’s stock valued at $31,658,000 after acquiring an additional 34,750 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in PDD by 31.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 7,407 shares of the company’s stock valued at $565,000 after acquiring an additional 1,751 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its holdings in shares of PDD by 166.7% in the 2nd quarter. FNY Investment Advisers LLC now owns 1,600 shares of the company’s stock valued at $122,000 after acquiring an additional 1,000 shares during the period. 39.83% of the stock is currently owned by institutional investors.

PDD Trading Down 0.1%

NASDAQ PDD opened at $90.85 on Friday. The stock has a market cap of $129.32 billion, a PE ratio of 9.81, a PEG ratio of 0.74 and a beta of 0.02. PDD has a 12 month low of $71.94 and a 12 month high of $139.41. The company’s 50-day moving average price is $83.51 and its 200-day moving average price is $94.81.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The company had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.57 EPS. As a group, sell-side analysts forecast that PDD will post 9.7 earnings per share for the current year.

About PDD

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.