PDD (NASDAQ:PDD) Stock Rating Upgraded by Wall Street Zen

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

Other analysts have also recently issued reports about the stock. Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Arete Research set a $130.00 price objective on shares of PDD in a research note on Tuesday, December 9th. Citigroup reiterated a “buy” rating on shares of PDD in a report on Tuesday. Loop Capital set a $170.00 target price on PDD in a report on Tuesday, January 6th. Finally, Sanford C. Bernstein set a $135.00 price target on PDD in a research report on Tuesday, November 18th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PDD currently has a consensus rating of “Hold” and a consensus price target of $139.87.

PDD Price Performance

PDD opened at $106.38 on Friday. The company has a market capitalization of $148.10 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.02. PDD has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The business has a 50-day moving average of $113.90 and a 200-day moving average of $120.63.

Institutional Investors Weigh In On PDD

A number of hedge funds have recently bought and sold shares of the company. Focus Partners Wealth grew its position in shares of PDD by 352.8% in the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after purchasing an additional 7,744 shares during the last quarter. Intech Investment Management LLC boosted its stake in PDD by 2.7% during the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after purchasing an additional 395 shares during the period. Sowell Financial Services LLC acquired a new stake in PDD in the 2nd quarter valued at approximately $237,000. Union Bancaire Privee UBP SA increased its position in PDD by 20.8% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 56,727 shares of the company’s stock worth $5,403,000 after buying an additional 9,751 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in PDD in the 2nd quarter worth approximately $28,000. 39.83% of the stock is currently owned by institutional investors.

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.