Dada Nexus (NASDAQ:DADA) Coverage Initiated by Analysts at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group began coverage on shares of Dada Nexus (NASDAQ:DADA) in a note issued to investors on Thursday, StockNewsAPI reports. The firm set a “neutral” rating on the stock.

A number of other research firms also recently weighed in on DADA. Citigroup downgraded shares of Dada Nexus from a “buy” rating to a “sell” rating in a research report on Monday, January 8th. Daiwa Capital Markets raised shares of Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Tuesday, February 20th. 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 research note on Wednesday, March 6th. Finally, Mizuho lowered their price objective on shares of Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Dada Nexus presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Dada Nexus Stock Up 0.5 %

Shares of NASDAQ DADA traded up $0.01 during midday trading on Thursday, reaching $2.01. 427,221 shares of the company were exchanged, compared to its average volume of 3,092,762. The stock’s 50-day moving average price is $2.16 and its 200-day moving average price is $2.75. The stock has a market cap of $526.64 million, a P/E ratio of -1.53 and a beta of 1.50. Dada Nexus has a one year low of $1.36 and a one year high of $7.03.

Dada Nexus (NASDAQ:DADA) last posted its earnings results 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 company had revenue of $381.95 million for the quarter, compared to the consensus estimate of $436.80 million. Dada Nexus had a negative return on equity of 14.06% and a negative net margin of 22.62%. On average, equities research analysts anticipate that Dada Nexus will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Kaizen Capital Partners Ltd lifted its position 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 during the last quarter. Baillie Gifford & Co. lifted its position in shares of Dada Nexus by 1.0% during the third quarter. Baillie Gifford & Co. now owns 7,489,745 shares of the company’s stock worth $33,329,000 after purchasing an additional 75,734 shares in the last quarter. TT International Asset Management LTD lifted its position in shares of Dada Nexus by 33.9% during the fourth quarter. TT International Asset Management LTD now owns 3,367,558 shares of the company’s stock worth $11,180,000 after purchasing an additional 852,790 shares in the last quarter. Aviva PLC lifted its position in shares of Dada Nexus by 56.0% during the third quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock worth $6,422,000 after purchasing an additional 518,113 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Dada Nexus by 135.5% during the third quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock worth $5,354,000 after purchasing an additional 692,120 shares in the last quarter. Hedge funds and other institutional investors own 59.25% of the company’s stock.

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.