Wall Street Zen Downgrades PDD (NASDAQ:PDD) to Hold

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

A number of other analysts have also issued reports on the stock. Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research note on Tuesday, November 18th. Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Bank of America decreased their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Arete Research set a $130.00 price target on PDD in a research report on Tuesday, December 9th. Finally, Arete cut shares of PDD from a “buy” rating to a “neutral” rating and set a $130.00 target price for the company. in a research report on Tuesday, December 9th. Five equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, PDD currently has an average rating of “Hold” and a consensus target price of $136.43.

PDD Stock Up 2.1%

Shares of NASDAQ PDD opened at $115.75 on Friday. The business has a 50 day moving average price of $120.93 and a two-hundred day moving average price of $119.75. PDD has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The firm has a market cap of $161.14 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.06 and a beta of 0.07.

Institutional Investors Weigh In On PDD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Focus Financial Network Inc. grew its stake in PDD by 4.3% in the second quarter. Focus Financial Network Inc. now owns 2,376 shares of the company’s stock valued at $249,000 after purchasing an additional 97 shares in the last quarter. Gunderson Capital Management Inc. grew its stake in shares of PDD by 5.5% in the 2nd quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company’s stock valued at $203,000 after buying an additional 101 shares in the last quarter. Advisory Services Network LLC increased 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 worth $2,043,000 after buying an additional 102 shares during the last quarter. West Family Investments Inc. raised its position 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 acquiring an additional 110 shares in the last quarter. Finally, Lido Advisors LLC lifted its stake in PDD by 4.6% in the second quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock valued at $276,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Company Profile

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.