Jefferies Financial Group Issues Pessimistic Forecast for PDD (NASDAQ:PDD) Stock Price

PDD (NASDAQ:PDD) had its price objective decreased by equities research analysts at Jefferies Financial Group from $171.00 to $156.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 19.44% from the company’s previous close.

Several other analysts also recently commented on PDD. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Benchmark lowered their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, PDD has an average rating of “Moderate Buy” and a consensus target price of $171.90.

PDD Stock Up 3.7 %

Shares of PDD stock traded up $4.69 during trading on Thursday, hitting $130.61. 28,449,199 shares of the stock traded hands, compared to its average volume of 10,586,393. The company has a fifty day moving average price of $114.50 and a two-hundred day moving average price of $112.79. PDD has a twelve month low of $88.01 and a twelve month high of $164.69. The stock has a market cap of $179.70 billion, a P/E ratio of 12.73, a PEG ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Prospera Private Wealth LLC bought a new stake in shares of PDD in the third quarter valued at approximately $27,000. Nisa Investment Advisors LLC acquired a new position in PDD during the 4th quarter valued at $39,000. Brooklyn Investment Group boosted its holdings in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares during the period. Global Retirement Partners LLC grew its position in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares during the period. 39.83% of the stock is owned by 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.