Dada Nexus Limited (NASDAQ:DADA) Receives $6.00 Consensus Target Price from Brokerages

Dada Nexus Limited (NASDAQ:DADA) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $6.00.

DADA has been the subject of several research analyst reports. Mizuho lowered their price target on Dada Nexus from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, January 17th. Daiwa Capital Markets upgraded Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price target for the company in a research report on Tuesday, February 20th. Citigroup lowered Dada Nexus from a “buy” rating to a “sell” rating in a research report on Monday, January 8th. Finally, New Street Research reiterated a “neutral” rating and issued a $2.00 target price (down from $15.00) on shares of Dada Nexus in a report on Wednesday, March 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in Dada Nexus by 170.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock valued at $71,000 after purchasing an additional 13,447 shares during the period. Kaizen Capital Partners Ltd raised its stake in Dada Nexus by 6.9% in the third quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock valued at $54,653,000 after buying an additional 788,425 shares in the last quarter. Aviva PLC raised its stake in Dada Nexus by 56.0% in the third quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock valued at $6,422,000 after buying an additional 518,113 shares in the last quarter. Federated Hermes Inc. raised its stake in Dada Nexus by 135.5% in the third quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock valued at $5,354,000 after buying an additional 692,120 shares in the last quarter. Finally, Lansdowne Partners UK LLP acquired a new stake in Dada Nexus in the third quarter valued at $2,920,000. 59.25% of the stock is currently owned by hedge funds and other institutional investors.

Dada Nexus Stock Up 1.1 %

DADA opened at $1.86 on Wednesday. Dada Nexus has a 52 week low of $1.36 and a 52 week high of $7.03. The business has a fifty day simple moving average of $2.15 and a 200-day simple moving average of $2.81. The firm has a market cap of $487.34 million, a P/E ratio of -1.42 and a beta of 1.50.

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

About Dada Nexus

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.