PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives Average Recommendation of “Hold” from Analysts

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been given an average recommendation of “Hold” by the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $139.8667.

Several research analysts have weighed in on PDD shares. Sanford C. Bernstein set a $135.00 price target on PDD in a report on Tuesday, November 18th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Loop Capital set a $170.00 target price on PDD in a research report on Tuesday, January 6th. Citigroup reissued a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Finally, Bank of America lowered their price target on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th.

PDD Price Performance

NASDAQ:PDD opened at $105.23 on Friday. The firm has a market cap of $146.50 billion and a PE ratio of 10.98. The firm has a 50 day simple moving average of $111.26 and a 200-day simple moving average of $120.48. PDD has a 1-year low of $87.11 and a 1-year high of $139.41.

Hedge Funds Weigh In On PDD

Several institutional investors and hedge funds have recently bought and sold shares of PDD. Advisory Services Network LLC grew its stake in shares of PDD by 0.7% during the 3rd quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock valued at $2,043,000 after buying an additional 102 shares during the period. West Family Investments Inc. raised its position in shares of PDD by 2.8% in the 3rd quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock worth $532,000 after buying an additional 110 shares during the period. Lido Advisors LLC boosted its holdings 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. Range Financial Group LLC grew its position in PDD by 3.4% during the third quarter. Range Financial Group LLC now owns 3,489 shares of the company’s stock valued at $461,000 after acquiring an additional 116 shares during the period. Finally, Savant Capital LLC grew its position in PDD by 5.2% during the third quarter. Savant Capital LLC now owns 3,079 shares of the company’s stock valued at $407,000 after acquiring an additional 151 shares during the period. Institutional investors and hedge funds 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.