PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives $138.67 Consensus Target Price from Analysts

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been given an average recommendation of “Hold” by the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $139.25.

PDD has been the topic of several research analyst reports. Loop Capital set a $170.00 price target on PDD in a research note on Tuesday, January 6th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Sanford C. Bernstein set a $135.00 target price on PDD in a report on Tuesday, November 18th. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Finally, Arete lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $130.00 price objective on the stock. in a research report on Tuesday, December 9th.

PDD Trading Down 0.6%

PDD stock opened at $106.78 on Wednesday. The company’s 50-day moving average price is $116.84 and its 200 day moving average price is $120.79. PDD has a 52 week low of $87.11 and a 52 week high of $139.41. The company has a market cap of $148.66 billion, a P/E ratio of 11.15, a P/E/G ratio of 0.99 and a beta of 0.02.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Westside Investment Management Inc. increased its stake in shares of PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after acquiring an additional 199 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in PDD during the second quarter worth approximately $28,000. GAMMA Investing LLC raised its stake in PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after purchasing an additional 238 shares during the period. Binnacle Investments Inc boosted its holdings in shares of PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Finally, Wexford Capital LP acquired a new position in shares of PDD in the 3rd quarter valued at $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.