Fintel reports that on August 30, 2023, Goldman Sachs upgraded their outlook for PDD Holdings Inc – ADR (NASDAQ:PDD) from Neutral to Buy.
Analyst Price Forecast Suggests 11.54% Upside
As of August 2, 2023, the average one-year price target for PDD Holdings Inc – ADR is 109.46. The forecasts range from a low of 79.79 to a high of $161.70. The average price target represents an increase of 11.54% from its latest reported closing price of 98.14.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for PDD Holdings Inc – ADR is 164,407MM, a decrease of 0.51%. The projected annual non-GAAP EPS is 29.94.
What is the Fund Sentiment?
There are 806 funds or institutions reporting positions in PDD Holdings Inc – ADR. This is a decrease of 30 owner(s) or 3.59% in the last quarter. Average portfolio weight of all funds dedicated to PDD is 1.31%, a decrease of 6.50%. Total shares owned by institutions decreased in the last three months by 1.75% to 354,320K shares. The put/call ratio of PDD is 0.80, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 31,167K shares representing 2.35% ownership of the company. In it’s prior filing, the firm reported owning 28,191K shares, representing an increase of 9.55%. The firm decreased its portfolio allocation in PDD by 3.83% over the last quarter.
Ubs Asset Management Americas holds 11,024K shares representing 0.83% ownership of the company. No change in the last quarter.
IDG China Venture Capital Fund IV Associates holds 8,184K shares representing 0.62% ownership of the company. In it’s prior filing, the firm reported owning 8,324K shares, representing a decrease of 1.72%. The firm decreased its portfolio allocation in PDD by 0.04% over the last quarter.
Invesco Qqq Trust, Series 1 holds 8,178K shares representing 0.62% ownership of the company. In it’s prior filing, the firm reported owning 7,825K shares, representing an increase of 4.32%. The firm decreased its portfolio allocation in PDD by 18.57% over the last quarter.
Hillhouse Capital Advisors holds 8,172K shares representing 0.62% ownership of the company. In it’s prior filing, the firm reported owning 10,643K shares, representing a decrease of 30.23%. The firm decreased its portfolio allocation in PDD by 15.99% over the last quarter.
Pinduoduo Background Information
(This description is provided by the company.)
Pinduoduo provides an online marketplace that connects millions of agricultural producers with consumers across China. Pinduoduo aims to bring more businesses and people into the digital economy so that local communities can benefit from the increased productivity and convenience through new market opportunities.
This article originally appeared on Fintel
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