Dada Nexus (NASDAQ:DADA) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Dada Nexus (NASDAQ:DADA) in a research report released on Thursday, MarketBeat reports. The firm issued a neutral rating and a $2.10 price target on the stock.

Other equities analysts have also issued reports about the stock. Mizuho cut their price objective on shares of Dada Nexus from $7.00 to $6.00 and set a buy rating on the stock in a report on Wednesday, January 17th. New Street Research reissued a neutral rating and issued a $2.00 price target (down from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. Citigroup downgraded Dada Nexus from a buy rating to a sell rating in a research report on Monday, January 8th. Finally, Daiwa Capital Markets upgraded shares of Dada Nexus from a neutral rating to a buy rating and set a $3.50 target price for the company in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $4.85.

Dada Nexus Trading Up 0.5 %

Shares of DADA stock opened at $2.01 on Thursday. The stock has a market capitalization of $526.64 million, a price-to-earnings ratio of -1.53 and a beta of 1.50. Dada Nexus has a twelve month low of $1.36 and a twelve month high of $7.03. The stock has a fifty day simple moving average of $2.16 and a two-hundred day simple moving average of $2.72.

Dada Nexus (NASDAQ:DADA) last released its quarterly earnings data on Monday, March 25th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). The business had revenue of $381.95 million during the quarter, compared to analysts’ expectations of $436.80 million. Dada Nexus had a negative return on equity of 14.06% and a negative net margin of 22.62%. Research analysts predict that Dada Nexus will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. TT International Asset Management LTD boosted its holdings in Dada Nexus by 33.9% in the fourth quarter. TT International Asset Management LTD now owns 3,367,558 shares of the company’s stock worth $11,180,000 after acquiring an additional 852,790 shares in the last quarter. Kaizen Capital Partners Ltd grew its position in Dada Nexus by 6.9% during the 3rd quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock worth $54,653,000 after purchasing an additional 788,425 shares during the last quarter. Federated Hermes Inc. increased its stake in Dada Nexus by 135.5% during the 3rd quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock valued at $5,354,000 after purchasing an additional 692,120 shares in the last quarter. Lansdowne Partners UK LLP acquired a new position in Dada Nexus during the 3rd quarter valued at approximately $2,920,000. Finally, Aviva PLC raised its holdings in shares of Dada Nexus by 56.0% in the third quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock worth $6,422,000 after buying an additional 518,113 shares during the last quarter. 59.25% of the stock is owned by institutional investors and hedge funds.

Dada Nexus Company Profile

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.