PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives $131.33 Average PT from Brokerages

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has earned an average recommendation of “Hold” from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $128.0769.

A number of research analysts have recently weighed in on PDD shares. Nomura downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Barclays downgraded shares of PDD from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $165.00 to $89.00 in a research report on Thursday, May 28th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research report on Wednesday, May 27th. Morgan Stanley set a $129.00 price objective on shares of PDD in a research report on Wednesday, May 27th. Finally, Sanford C. Bernstein lowered their price objective on shares of PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in PDD by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock valued at $3,720,397,000 after purchasing an additional 425,908 shares in the last quarter. H&H International Investment LLC grew its stake in PDD by 71.2% in the first quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock valued at $2,017,881,000 after purchasing an additional 8,211,600 shares in the last quarter. Norges Bank purchased a new position in PDD in the fourth quarter valued at about $1,065,446,000. Geode Capital Management LLC grew its stake in PDD by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock valued at $761,720,000 after purchasing an additional 359,921 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in PDD by 305.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after purchasing an additional 5,070,827 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Down 2.1%

Shares of PDD stock opened at $79.86 on Friday. PDD has a 1-year low of $78.87 and a 1-year high of $139.41. The company has a market capitalization of $113.67 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 0.65 and a beta of -0.02. The stock’s fifty day simple moving average is $94.17 and its 200-day simple moving average is $102.62.

PDD (NASDAQ:PDD) last issued its quarterly earnings results 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). PDD had a net margin of 21.86% and a return on equity of 24.32%. The business had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter in the prior year, the firm posted $1.57 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts predict that PDD will post 9.92 EPS 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.