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

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has earned an average rating of “Hold” from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $117.1667.

A number of research firms have issued reports on PDD. Zacks Research upgraded PDD from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Citigroup lowered their price objective on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Bank of America restated a “neutral” rating on shares of PDD in a research report on Wednesday, August 26th. Nomura cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a research report on Wednesday, May 27th.

PDD Trading Down 2.0%

Shares of PDD opened at $84.00 on Thursday. The firm has a market cap of $119.57 billion, a PE ratio of 9.25, a P/E/G ratio of 0.65 and a beta of 0.01. The firm has a fifty day simple moving average of $85.18 and a two-hundred day simple moving average of $92.80. PDD has a 1-year low of $71.94 and a 1-year high of $139.41.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%.The firm had revenue of $16.54 billion for the quarter. As a group, research analysts forecast that PDD will post 10.5 EPS for the current fiscal year.

Institutional Investors Weigh In On PDD

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of PDD by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock valued at $761,720,000 after acquiring an additional 359,921 shares during the period. Wasatch Advisors LP bought a new stake in PDD during the 2nd quarter worth approximately $3,658,000. Dymon Asia Capital Singapore PTE. LTD. raised its stake in PDD by 125.4% during the 4th quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 64,917 shares of the company’s stock worth $7,361,000 after acquiring an additional 36,122 shares during the period. Jupiter Asset Management Ltd. boosted its position in shares of PDD by 721.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 180,704 shares of the company’s stock worth $20,490,000 after purchasing an additional 158,704 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of PDD in the fourth quarter worth $24,192,000. 39.83% of the stock is currently 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.