PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Stock Has Average Target Price of $110.31 According to Analysts

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been given an average recommendation of “Hold” by the sixteen ratings firms that are presently covering the firm, Marketbeat reports. Two 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 12 month price objective among brokers that have issued ratings on the stock in the last year is $110.31.

Several analysts have recently issued reports on the company. Bank of America reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, August 26th. Zacks Research raised shares of PDD from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Daiwa Securities Group reissued a “hold” rating and issued a $80.00 price objective on shares of PDD in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. reduced their price objective on PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, September 10th. Finally, Arete Research set a $93.00 price objective on PDD and gave the stock a “neutral” rating in a research note on Monday, September 7th.

Institutional Investors Weigh In On PDD

Several institutional investors have recently made changes to their positions in the company. H&H International Investment LLC grew its stake in shares of PDD by 71.2% during the first quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after acquiring an additional 8,211,600 shares during the last quarter. SG Americas Securities LLC increased its position in shares of PDD by 94.6% in the 1st quarter. SG Americas Securities LLC now owns 6,301,820 shares of the company’s stock valued at $643,920,000 after acquiring an additional 3,063,694 shares during the period. Temasek Holdings Private Ltd increased its position in shares of PDD by 5.2% in the 1st quarter. Temasek Holdings Private Ltd now owns 4,926,061 shares of the company’s stock valued at $503,345,000 after acquiring an additional 243,167 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of PDD by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,737,229 shares of the company’s stock worth $381,496,000 after purchasing an additional 252,537 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of PDD in the third quarter worth about $202,907,000. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $81.63 on Friday. PDD has a 1-year low of $71.94 and a 1-year high of $139.41. The company has a market capitalization of $116.19 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 0.64 and a beta of -0.05. The business has a 50 day simple moving average of $81.60 and a two-hundred day simple moving average of $87.12.

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 net margin of 20.73% and a return on equity of 22.29%. The company had revenue of $16.54 billion during the quarter. Sell-side analysts anticipate that PDD will post 10.02 EPS for the current fiscal year.

About PDD

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company’s platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings’ businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.