PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Stock Has Average Target Price of $110.31

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been assigned a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $110.31.

Several equities research analysts recently issued reports on PDD shares. Arete Research set a $93.00 price objective on PDD and gave the stock a “neutral” rating in a report on Monday, September 7th. Daiwa Securities Group reissued a “hold” rating and set a $80.00 target price on shares of PDD in a report on Tuesday, June 23rd. Zacks Research raised PDD from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Weiss Ratings downgraded PDD from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Finally, JPMorgan Chase & Co. decreased their target price on PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, September 10th.

PDD Price Performance

PDD stock opened at $80.97 on Friday. The stock has a market capitalization of $115.25 billion, a P/E ratio of 8.92, a P/E/G ratio of 0.64 and a beta of -0.05. The firm has a 50-day simple moving average of $82.01 and a 200-day simple moving average of $87.41. PDD has a 52 week low of $71.94 and a 52 week 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 for the quarter. The firm had revenue of $16.54 billion during the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. On average, analysts expect that PDD will post 10.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. H&H International Investment LLC boosted its stake in PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after purchasing an additional 8,211,600 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of PDD by 94.6% during the first quarter. SG Americas Securities LLC now owns 6,301,820 shares of the company’s stock worth $643,920,000 after buying an additional 3,063,694 shares in the last quarter. Temasek Holdings Private Ltd raised its position in shares of PDD by 5.2% in the first quarter. Temasek Holdings Private Ltd now owns 4,926,061 shares of the company’s stock valued at $503,345,000 after buying an additional 243,167 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of PDD by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,737,229 shares of the company’s stock valued at $381,496,000 after buying an additional 252,537 shares during the last quarter. Finally, Perseverance Asset Management International raised its position in shares of PDD by 10.2% in the first quarter. Perseverance Asset Management International now owns 2,161,676 shares of the company’s stock valued at $220,880,000 after buying an additional 199,584 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Company Profile

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company’s platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings’ businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.