PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Given Consensus Rating of “Hold” by Analysts

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have been assigned a consensus recommendation of “Hold” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $128.0769.

Several equities analysts have recently issued reports on PDD shares. Citigroup decreased their price objective on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Benchmark cut their target price on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, May 28th. Morgan Stanley set a $129.00 target price on PDD in a research report on Wednesday, May 27th. Sanford C. Bernstein cut their target price on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a research report on Thursday, May 28th.

Institutional Investors Weigh In On PDD

Several hedge funds and other institutional investors have recently made changes to their positions in PDD. Advisory Services Network LLC boosted its holdings in PDD by 0.7% in the third quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock valued at $2,043,000 after purchasing an additional 102 shares during the last quarter. West Family Investments Inc. raised its stake in PDD by 2.8% during the third quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock valued at $532,000 after buying an additional 110 shares in the last quarter. Wealthfront Advisers LLC raised its stake in PDD by 3.6% during the first quarter. Wealthfront Advisers LLC now owns 3,609 shares of the company’s stock valued at $369,000 after buying an additional 127 shares in the last quarter. Range Financial Group LLC raised its stake in PDD by 3.8% during the fourth quarter. Range Financial Group LLC now owns 3,620 shares of the company’s stock valued at $410,000 after buying an additional 131 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in PDD by 2.9% during the first quarter. NewEdge Advisors LLC now owns 4,677 shares of the company’s stock valued at $478,000 after buying an additional 134 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $79.56 on Friday. The stock has a 50-day simple moving average of $93.29 and a 200-day simple moving average of $102.20. The stock has a market capitalization of $113.25 billion, a PE ratio of 8.59, a PEG ratio of 0.63 and a beta of -0.02. PDD has a 1 year low of $78.51 and a 1 year high of $139.41.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($1.02). The company had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.57 EPS. Analysts predict that PDD will post 9.92 EPS for the current year.

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.