5 High Growth International Stocks to Buy

4. PDD Holdings Inc. (NASDAQ:PDD)

Number of Hedge Fund Holders: 57

Quarterly Revenue Growth YoY as of September 29, 2022: 65.00%

PDD Holdings Inc. (NASDAQ:PDD) was incorporated in 2015 and is headquartered in Shanghai, China. It operates an e-commerce platform in the People’s Republic of China. It is one of the best high growth international stocks to invest in, as Q3 revenue of $4.99 billion climbed 65.0% year-over-year, beating estimates by $690 million, due to an increase in revenues from online marketing services and transaction services.

On December 9, KGI Securities analyst Andrew Cheng upgraded PDD Holdings Inc. (NASDAQ:PDD) to Outperform from Neutral with a $110 price target.

According to Insider Monkey’s fourth quarter database, 57 hedge funds were bullish on PDD Holdings Inc. (NASDAQ:PDD), compared to 54 funds in the prior quarter. D E Shaw is the biggest stakeholder of the company, with 5.7 million shares worth $468 million. 

Here is what Tao Value has to say about PDD Holdings Inc. (NASDAQ:PDD) in its Q4 2021 investor letter:

“On the detracting side, one of our largest detractors includes PDD Holdings Inc. (NASDAQ:PDD). PDD Holdings Inc. (NASDAQ:PDD) reported the second consecutive GAAP profit quarter yet missed on the revenue due to nation-wide consumption weakness & scaled back Sales & Marketing efforts. Market disliked it and the stock price plunged on the earnings. In my opinion, the accounting profits proved the original thesis of using S&M to acquire users and using great shopping experience to keep them. After realizing the first growth curve, Pinduoduo now shifted its focus & investment to agriculture. It is still very early, but the reduced size due to price drop warrants a position to watch and continue to grow with such a team with a strong culture.”