Dada Nexus Limited (NASDAQ:DADA) Receives Consensus Recommendation of “Buy” from Brokerages

Dada Nexus Limited (NASDAQ:DADAGet Rating) has been assigned an average recommendation of “Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $27.16.

A number of brokerages have weighed in on DADA. Credit Suisse Group raised Dada Nexus from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $25.00 to $17.50 in a research report on Wednesday, March 9th. Zacks Investment Research raised Dada Nexus from a “sell” rating to a “hold” rating in a research report on Monday, January 31st. Bank of America decreased their target price on Dada Nexus from $35.40 to $28.70 and set a “buy” rating for the company in a research report on Wednesday, March 9th. JPMorgan Chase & Co. lowered Dada Nexus from an “overweight” rating to a “neutral” rating and set a $7.50 target price for the company. in a research report on Monday, March 14th. Finally, Mizuho decreased their target price on Dada Nexus from $20.00 to $18.00 in a research report on Monday.

Shares of Dada Nexus stock opened at $8.00 on Tuesday. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -4.97 and a beta of 1.59. The firm’s 50-day moving average is $8.42 and its 200 day moving average is $13.18. Dada Nexus has a 1 year low of $5.00 and a 1 year high of $32.50.

Dada Nexus (NASDAQ:DADAGet Rating) last announced its quarterly earnings results on Tuesday, March 8th. The company reported ($2.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($1.67). Dada Nexus had a negative return on equity of 48.26% and a negative net margin of 35.96%. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. Research analysts anticipate that Dada Nexus will post -0.6 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE purchased a new stake in shares of Dada Nexus during the 3rd quarter valued at about $36,000. Eaton Vance Management purchased a new stake in shares of Dada Nexus during the 3rd quarter valued at about $37,000. Advisors Asset Management Inc. increased its position in shares of Dada Nexus by 282.8% during the 4th quarter. Advisors Asset Management Inc. now owns 8,234 shares of the company’s stock valued at $108,000 after purchasing an additional 6,083 shares during the last quarter. BP PLC purchased a new stake in Dada Nexus in the 4th quarter worth approximately $155,000. Finally, Panagora Asset Management Inc. purchased a new stake in Dada Nexus in the 3rd quarter worth approximately $245,000. 24.15% of the stock is owned by hedge funds and other institutional investors.

Dada Nexus Company Profile (Get Rating)

Dada Nexus Limited operates platform of local on-demand retail and delivery in China. It operates JDDJ, a local on-demand retail platform for consumers, retailers, and brand owners; and Dada Now, a local on-demand delivery platform for merchants and individual senders in various industries and product categories.

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Analyst Recommendations for Dada Nexus (NASDAQ:DADA)

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