PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Stock Has Average Price Target of $113.31

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have earned an average recommendation of “Hold” from the sixteen analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $113.31.

A number of research firms have commented on PDD. Zacks Research upgraded PDD from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Bank of America reiterated a “neutral” rating on shares of PDD in a research note on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $105.00 target price on shares of PDD in a research report on Monday, August 24th. BNP Paribas Exane started coverage on shares of PDD in a report on Monday, June 15th. They issued an “underperform” rating and a $89.00 price target for the company. Finally, Benchmark lowered their price objective on shares of PDD from $127.00 to $114.00 and set a “buy” rating for the company in a research note on Tuesday, August 25th.

PDD Price Performance

NASDAQ:PDD opened at $77.57 on Monday. PDD has a 52 week low of $71.94 and a 52 week high of $139.41. The firm has a 50 day moving average of $84.45 and a 200 day moving average of $89.68. The stock has a market capitalization of $110.41 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.61 and a beta of -0.01.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%.The business had revenue of $16.54 billion for the quarter. As a group, analysts expect that PDD will post 10.02 EPS for the current year.

Institutional Trading of PDD

Several large investors have recently added to or reduced their stakes in PDD. ABS Direct Equity Fund LLC raised its stake in shares of PDD by 13.2% in the second quarter. ABS Direct Equity Fund LLC now owns 85,772 shares of the company’s stock worth $6,543,000 after purchasing an additional 9,972 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in PDD in the 2nd quarter worth approximately $52,000. Nykredit A S purchased a new position in PDD during the 2nd quarter worth approximately $10,042,000. Formuepleje A S purchased a new position in PDD during the 2nd quarter worth approximately $947,000. Finally, Raiffeisen Bank International AG lifted its stake in PDD by 28.3% during the 2nd quarter. Raiffeisen Bank International AG now owns 7,294 shares of the company’s stock valued at $558,000 after acquiring an additional 1,607 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

About PDD

PDD Holdings Inc is a multinational commerce group that operates technology platforms connecting consumers, merchants, producers and suppliers. The company’s businesses focus on online retail, agricultural commerce and value-oriented shopping experiences, using interactive features, data and consumer demand to support transactions and product discovery.

Its flagship platform, Pinduoduo, serves consumers in China and offers a broad selection of products, including agricultural goods, groceries, household items, apparel, electronics and other consumer merchandise.