PDD (NASDAQ:PDD) Lowered to Hold Rating by Nomura Securities

PDD (NASDAQ:PDD) was downgraded by equities research analysts at Nomura Securities from a “strong-buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports.

A number of other analysts have also commented on the stock. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of PDD in a research note on Friday. Jefferies Financial Group cut their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Nomura reiterated a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research report on Thursday. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Trading Down 3.3 %

Shares of NASDAQ:PDD opened at $126.64 on Friday. PDD has a 1 year low of $88.01 and a 1 year high of $164.69. The stock’s fifty day moving average price is $115.75 and its 200-day moving average price is $113.13. The company has a market cap of $174.24 billion, a P/E ratio of 12.37, a PEG ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Institutional Investors Weigh In On PDD

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PDD. Prospera Financial Services Inc raised its holdings in shares of PDD by 27.1% in the third quarter. Prospera Financial Services Inc now owns 4,842 shares of the company’s stock worth $653,000 after buying an additional 1,033 shares during the period. Avior Wealth Management LLC grew its position in PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after acquiring an additional 169 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in PDD in the third quarter worth $27,000. Advisors Asset Management Inc. lifted its position in shares of PDD by 39.9% during the third quarter. Advisors Asset Management Inc. now owns 4,148 shares of the company’s stock worth $559,000 after purchasing an additional 1,184 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of PDD by 63.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 669,605 shares of the company’s stock valued at $90,269,000 after purchasing an additional 259,937 shares during the period. 39.83% of the stock is owned by hedge funds and other 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.