PDD (NASDAQ:PDD) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of PDD (NASDAQ:PDD) from a neutral rating to a buy rating in a report published on Monday morning,Benzinga reports. Citigroup currently has $165.00 price objective on the stock, up from their previous price objective of $127.00.

A number of other research firms also recently weighed in on PDD. Nomura reissued a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of PDD in a report on Friday, March 21st. JPMorgan Chase & Co. lifted their target price on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Jefferies Financial Group dropped their target price on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Finally, Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.00.

PDD Trading Up 6.1%

Shares of PDD stock opened at $116.38 on Monday. The business has a fifty day simple moving average of $109.82 and a two-hundred day simple moving average of $109.42. PDD has a 1 year low of $87.11 and a 1 year high of $164.69. The company has a market capitalization of $160.12 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 0.32 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Institutional Investors Weigh In On PDD

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new stake in PDD in the 1st quarter valued at $26,000. Nisa Investment Advisors LLC purchased a new position in PDD during the 4th quarter valued at about $39,000. IFP Advisors Inc grew its holdings in PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company’s stock valued at $48,000 after buying an additional 290 shares in the last quarter. Brooklyn Investment Group grew its holdings in PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after buying an additional 405 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after acquiring an additional 498 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other 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.