13 Most Undervalued NASDAQ Stocks To Buy According To Hedge Funds

4. PDD Holdings Inc. (NASDAQ:PDD)

Number of Hedge Fund Holders: 85

Forward P/E Ratio as of March 12: 9.26

PDD Holdings Inc. (NASDAQ:PDD) is a multinational commerce group that owns and operates multiple businesses. It runs Pinduoduo, an e-commerce platform offering products across different categories such as fresh produce, clothing, footwear, and childcare essentials. On March 12,  PDD Holdings Inc. (NASDAQ:PDD)’s global online marketplace Temu partnered with DigitBridge, an American digital commerce operations system, to support small and medium-sized businesses in expanding their sales channels.

In Q3 2024, PDD Holdings Inc. (NASDAQ:PDD)’s revenue climbed 44% year-over-year to RMB 99.4 billion, fueled by growth in online marketing and transaction services. The company generated RMB 27.5 billion in net cash from operations, down from RMB 32.5 billion in the same period last year. As of September 30, 2024, PDD held RMB 38.5 billion in cash, cash equivalents, and short-term investments. PDD Holdings Inc. (NASDAQ:PDD) is among the most undervalued stocks to purchase.

According to Insider Monkey’s Q4 database, 85 hedge funds were bullish on PDD Holdings Inc. (NASDAQ:PDD), compared to 78 funds in the prior quarter. David Tepper’s Appaloosa Management is one of the biggest shareholders of the company, with 5.3 million shares valued at approximately $519.5 million.