Dada Nexus (NASDAQ:DADA) PT Raised to $18.00

Dada Nexus (NASDAQ:DADA – Get Rating) had its price objective increased by analysts at JPMorgan Chase & Co. from $7.50 to $18.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 33.63% from the company’s current price.

Separately, Mizuho cut their price target on shares of Dada Nexus from $16.50 to $13.00 in a report on Monday, November 14th.

Dada Nexus Price Performance

NASDAQ:DADA opened at $13.47 on Wednesday. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of -9.35, a price-to-earnings-growth ratio of 4.55 and a beta of 0.99. The company has a 50 day moving average price of $6.95 and a 200-day moving average price of $6.36. Dada Nexus has a 1-year low of $2.98 and a 1-year high of $13.92.

Dada Nexus (NASDAQ:DADA – Get Rating) last posted its earnings results on Thursday, November 17th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.02. The firm had revenue of $347.82 million during the quarter, compared to analyst estimates of $348.04 million. Dada Nexus had a negative net margin of 28.88% and a negative return on equity of 30.01%. On average, sell-side analysts anticipate that Dada Nexus will post -0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dada Nexus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. grew its holdings in shares of Dada Nexus by 72.3% during the second quarter. Pinebridge Investments L.P. now owns 4,019 shares of the company’s stock worth $32,000 after buying an additional 1,686 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Dada Nexus by 15.2% during the first quarter. Vontobel Holding Ltd. now owns 20,565 shares of the company’s stock worth $188,000 after buying an additional 2,710 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Dada Nexus by 4.0% during the third quarter. Nuveen Asset Management LLC now owns 78,200 shares of the company’s stock worth $370,000 after buying an additional 3,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Dada Nexus by 4.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 88,198 shares of the company’s stock worth $806,000 after buying an additional 3,562 shares in the last quarter. Finally, Virtu Financial LLC grew its holdings in shares of Dada Nexus by 10.4% during the first quarter. Virtu Financial LLC now owns 39,101 shares of the company’s stock worth $357,000 after buying an additional 3,681 shares in the last quarter. Hedge funds and other institutional investors own 18.11% of the company’s stock.

Dada Nexus Company Profile

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Dada Nexus Limited operates a platform of local on-demand retail and delivery in the People's Republic of China. It operates Dada Now, a local on-demand delivery platform that provides intra-city delivery and last-mile delivery services on an on-demand basis to chain merchants, small- and medium-sized enterprise merchants, and individual senders; and JDDJ, a local on-demand retail platform for consumers, retailers, and brand owner.