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

Research analysts at The Goldman Sachs Group initiated coverage on shares of Dada Nexus (NASDAQ:DADA) in a note issued to investors on Thursday, MarketBeat.com reports. The firm set a “neutral” rating and a $2.10 price target on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 4.48% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. 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. 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. New Street Research restated 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. Finally, Citigroup lowered Dada Nexus from a “buy” rating to a “sell” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.85.

Dada Nexus Stock Performance

NASDAQ DADA opened at $2.01 on Thursday. The company has a market capitalization 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. The stock has a 50 day moving average price of $2.16 and a 200-day moving average price of $2.73.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings results on Monday, March 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). The company had revenue of $381.95 million during 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%. As a group, equities analysts predict that Dada Nexus will post 0.22 EPS for the current fiscal year.

Institutional Trading of Dada Nexus

A number of hedge funds and other institutional investors have recently bought and sold shares of DADA. TT International Asset Management LTD increased its stake 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 purchasing an additional 852,790 shares during the period. Kaizen Capital Partners Ltd increased its stake in shares of Dada Nexus by 6.9% during 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 period. Federated Hermes Inc. increased its stake 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 valued at $5,354,000 after buying an additional 692,120 shares during the period. Lansdowne Partners UK LLP purchased a new position in shares of Dada Nexus during the third quarter valued at $2,920,000. Finally, Aviva PLC increased its stake 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 valued at $6,422,000 after buying an additional 518,113 shares during the period. Hedge funds and other institutional investors own 59.25% of the company’s stock.

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.