Dada Nexus Limited (NASDAQ:DADA) Receives $6.00 Consensus PT from Analysts

Dada Nexus Limited (NASDAQ:DADA) has been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $6.00.

Several equities research analysts recently commented on DADA shares. New Street Research reiterated a “neutral” rating and issued a $2.00 price objective (down from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. Mizuho reduced their price target 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. Citigroup lowered shares of Dada Nexus from a “buy” rating to a “sell” rating in a research report on Monday, January 8th. Finally, Daiwa Capital Markets upgraded Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Tuesday, February 20th.

Institutional Investors Weigh In On Dada Nexus

A number of hedge funds and other institutional investors have recently modified their holdings of the company. TT International Asset Management LTD lifted its stake 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 valued at $11,180,000 after buying an additional 852,790 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Dada Nexus by 170.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock worth $71,000 after purchasing an additional 13,447 shares during the period. Jump Financial LLC acquired a new stake in shares of Dada Nexus during the fourth quarter worth $42,000. ABS Direct Equity Fund LLC purchased a new stake in shares of Dada Nexus in the fourth quarter valued at $667,000. Finally, TimesSquare Capital Management LLC increased its stake in Dada Nexus by 32.3% in the third quarter. TimesSquare Capital Management LLC now owns 305,800 shares of the company’s stock valued at $1,361,000 after purchasing an additional 74,700 shares during the last quarter. 59.25% of the stock is currently owned by hedge funds and other institutional investors.

Dada Nexus Price Performance

Shares of NASDAQ:DADA opened at $1.86 on Wednesday. The firm has a market capitalization of $487.34 million, a price-to-earnings ratio of -1.42 and a beta of 1.50. The business’s 50 day simple moving average is $2.16 and its 200-day simple moving average is $2.75. Dada Nexus has a 12 month low of $1.36 and a 12 month high of $7.03.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings data on Monday, March 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The firm had revenue of $381.95 million for the quarter, compared to analyst estimates 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 analysts anticipate 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.