PDD (PDD) – Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of PDD (NASDAQ: PDD) in the last few weeks:

• 3/21/2024 – PDD had its price target lowered by analysts at JPMorgan Chase & Co. from $195.00 to $190.00. They now have an “overweight” rating on the stock.
• 3/21/2024 – PDD had its price target raised by analysts at Barclays PLC from $164.00 to $178.00. They now have an “overweight” rating on the stock.
• 3/21/2024 – PDD had its price target raised by analysts at Citigroup Inc. from $170.00 to $185.00. They now have a “buy” rating on the stock.
• 3/21/2024 – PDD had its price target raised by analysts at Benchmark Co. from $215.00 to $220.00. They now have a “buy” rating on the stock.
• 3/21/2024 – PDD had its price target raised by analysts at Jefferies Financial Group Inc. from $157.00 to $161.00. They now have a “buy” rating on the stock.
• 3/11/2024 – PDD was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating. They now have a $136.00 price target on the stock.
• 3/11/2024 – PDD was upgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to a “buy” rating. They now have a $157.00 price target on the stock, up previously from $117.00.

PDD Price Performance

NASDAQ:PDD traded down $0.25 on Monday, hitting $117.62. The company had a trading volume of 4,503,736 shares, compared to its average volume of 8,523,896. The firm has a 50 day moving average of $124.31 and a two-hundred day moving average of $124.65. The stock has a market capitalization of $155.21 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 0.31 and a beta of 0.67. PDD Holdings Inc. has a 52 week low of $59.67 and a 52 week high of $152.99. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On PDD

Several large investors have recently modified their holdings of PDD. Whittier Trust Co. of Nevada Inc. increased its position in shares of PDD by 2.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock worth $491,000 after buying an additional 66 shares during the period. Johnson Investment Counsel Inc. increased its position in shares of PDD by 2.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock worth $480,000 after buying an additional 78 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares during the period. PDS Planning Inc grew its holdings in PDD by 5.2% in the fourth quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock worth $341,000 after purchasing an additional 116 shares during the period. Finally, Mariner LLC grew its holdings in PDD by 1.4% in the fourth quarter. Mariner LLC now owns 9,607 shares of the company’s stock worth $783,000 after purchasing an additional 133 shares during the period. Institutional investors own 29.07% of the company’s stock.

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.