PDD’s (PDD) Buy Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of PDD (NASDAQ:PDD) in a research report released on Friday,Benzinga reports. They currently have a $160.00 price target on the stock.

PDD has been the subject of several other reports. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Nomura reissued a “neutral” rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Finally, Jefferies Financial Group lowered their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $169.91.

PDD Stock Down 3.3 %

NASDAQ PDD opened at $126.64 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $115.75 and a two-hundred day moving average of $113.13. The firm has a market capitalization of $174.24 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.32 and a beta of 0.69. PDD has a 52 week low of $88.01 and a 52 week high of $164.69.

Institutional Trading of PDD

Institutional investors and hedge funds have recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in PDD in the third quarter worth about $27,000. Nisa Investment Advisors LLC bought a new position in PDD in the fourth quarter worth about $39,000. Brooklyn Investment Group raised its holdings in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares in the last quarter. Global Retirement Partners LLC raised its holdings in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.