PDD (NASDAQ:PDD) Raised to Buy at Wall Street Zen

PDD (NASDAQ:PDD) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research firms have also weighed in on PDD. Jefferies Financial Group set a $146.00 target price on shares of PDD and gave the stock a “buy” rating in a report on Monday, August 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Bank of America dropped their target price on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. New Street Research cut PDD from a “buy” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research report on Tuesday, August 26th. Finally, Sanford C. Bernstein set a $135.00 price target on PDD in a research report on Tuesday, November 18th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $137.50.

PDD Trading Up 0.3%

NASDAQ PDD opened at $113.24 on Friday. The company has a fifty day simple moving average of $131.12 and a 200 day simple moving average of $118.69. PDD has a 12-month low of $87.11 and a 12-month high of $139.41. The company has a market cap of $157.65 billion, a P/E ratio of 11.82, a PEG ratio of 1.34 and a beta of 0.47.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PDD. Vanguard Group Inc. raised its stake in shares of PDD by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock worth $4,280,289,000 after purchasing an additional 348,997 shares during the period. Norges Bank purchased a new stake in PDD during the second quarter worth about $962,785,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in PDD by 899.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company’s stock worth $1,063,489,000 after buying an additional 8,086,620 shares during the last quarter. Sanders Capital LLC raised its position in PDD by 21.5% in the second quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock worth $892,395,000 after acquiring an additional 1,508,445 shares during the period. Finally, H&H International Investment LLC boosted its stake in PDD by 7.3% in the first quarter. H&H International Investment LLC now owns 7,753,900 shares of the company’s stock valued at $917,674,000 after acquiring an additional 525,200 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

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.