PDD (NASDAQ:PDD) Raised to Hold at Zacks Research

PDD (NASDAQ:PDD) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

PDD has been the topic of a number of other research reports. Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $165.00 to $89.00 in a report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $105.00 target price on shares of PDD in a research note on Monday. Citigroup dropped their price objective on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Daiwa Securities Group restated a “hold” rating and issued a $80.00 price target on shares of PDD in a research report on Tuesday, June 23rd. Finally, Bank of America reaffirmed a “neutral” rating on shares of PDD in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PDD currently has an average rating of “Hold” and an average target price of $117.17.

PDD Price Performance

Shares of PDD stock opened at $86.74 on Tuesday. The firm’s 50-day moving average is $84.84 and its 200 day moving average is $93.24. The stock has a market cap of $123.47 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 0.71 and a beta of 0.02. PDD has a 1 year low of $71.94 and a 1 year high of $139.41.

PDD (NASDAQ:PDD) last announced its quarterly 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 23.00%. The company had revenue of $16.54 billion during the quarter. On average, equities analysts expect that PDD will post 9.7 EPS for the current fiscal year.

Institutional Trading of PDD

Hedge funds have recently added to or reduced their stakes in the business. Binnacle Investments Inc boosted its position in PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. Grove Bank & Trust acquired a new stake in shares of PDD during the second quarter worth $38,000. Smartleaf Asset Management LLC raised its stake in shares of PDD by 230.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after purchasing an additional 263 shares during the last quarter. Wexford Capital LP purchased a new position in PDD during the 3rd quarter worth approximately $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of PDD during the fourth quarter worth $44,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

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.