Analysts Set PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) PT at $117.17

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have been assigned an average rating of “Hold” from the fifteen ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $117.1667.

A number of research analysts have recently weighed in on PDD shares. BNP Paribas Exane started coverage on PDD in a research report on Monday, June 15th. They set an “underperform” rating and a $89.00 price objective on the stock. Morgan Stanley set a $129.00 target price on shares of PDD in a report on Wednesday, May 27th. Benchmark decreased their target price on shares of PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a research note on Tuesday, August 25th. Bank of America reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday. Finally, Barclays lowered shares of PDD from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th.

PDD Stock Performance

Shares of PDD stock opened at $85.69 on Thursday. The stock has a market cap of $121.97 billion, a P/E ratio of 9.44, a P/E/G ratio of 0.65 and a beta of 0.02. The stock’s fifty day moving average is $85.07 and its 200 day moving average is $93.04. PDD has a one year low of $71.94 and a one 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 (EPS) for the quarter. The business had revenue of $16.54 billion during the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%. Analysts predict that PDD will post 10.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Binnacle Investments Inc boosted its holdings in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after buying an additional 200 shares during the period. Wexford Capital LP bought a new stake in PDD during the third quarter valued at about $44,000. Smartleaf Asset Management LLC raised its holdings in PDD by 230.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after acquiring an additional 263 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of PDD in the fourth quarter valued at about $44,000. Finally, Larson Financial Group LLC lifted its position in shares of PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after acquiring an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

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.