Jefferies Financial Group Lowers PDD (NASDAQ:PDD) Price Target to $156.00

PDD (NASDAQ:PDD) had its price target dropped by equities research analysts at Jefferies Financial Group from $171.00 to $156.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 19.44% from the stock’s previous close.

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

PDD Stock Performance

PDD stock traded up $4.69 on Thursday, hitting $130.61. The company’s stock had a trading volume of 28,449,199 shares, compared to its average volume of 10,586,393. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $114.50 and a 200-day moving average price of $112.79. The firm has a market cap of $179.70 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. PDD has a one year low of $88.01 and a one year high of $164.69.

Hedge Funds Weigh In On PDD

Several institutional investors and hedge funds have recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in PDD in the third quarter valued at about $27,000. Nisa Investment Advisors LLC bought a new position in shares of PDD during the 4th quarter valued at about $39,000. Brooklyn Investment Group grew its position in shares of 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 increased its stake in PDD by 939.6% during 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 in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in 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 in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

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.