Shares of Dada Nexus Limited (NASDAQ:DADA – Get Rating) have received a consensus rating of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $27.29.
DADA has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised Dada Nexus from a “neutral” rating to an “overweight” rating and upped their price target for the company from $7.50 to $10.00 in a research report on Monday, May 16th. Credit Suisse Group raised Dada Nexus from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $25.00 to $17.50 in a research report on Wednesday, March 9th. Bank of America dropped their price target on Dada Nexus from $35.40 to $28.70 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Zacks Investment Research raised Dada Nexus from a “sell” rating to a “hold” rating in a research report on Monday, January 31st. Finally, Mizuho dropped their price target on Dada Nexus from $18.00 to $16.50 in a research report on Tuesday, May 17th.
Several institutional investors have recently made changes to their positions in DADA. US Bancorp DE bought a new position in shares of Dada Nexus during the 3rd quarter valued at about $36,000. Eaton Vance Management bought a new position in Dada Nexus during the 3rd quarter worth approximately $37,000. HighTower Advisors LLC bought a new position in Dada Nexus during the 1st quarter worth approximately $97,000. Advisors Asset Management Inc. grew its position in Dada Nexus by 282.8% during the 4th quarter. Advisors Asset Management Inc. now owns 8,234 shares of the company’s stock worth $108,000 after acquiring an additional 6,083 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Dada Nexus in the 1st quarter worth approximately $123,000. Hedge funds and other institutional investors own 24.15% of the company’s stock.
Dada Nexus (NASDAQ:DADA – Get Rating) last announced its quarterly earnings data on Tuesday, March 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.01). The business had revenue of $317.83 million during the quarter, compared to the consensus estimate of $309.39 million. Dada Nexus had a negative net margin of 32.74% and a negative return on equity of 40.74%. During the same quarter last year, the company earned ($0.36) EPS. On average, sell-side analysts forecast that Dada Nexus will post -0.87 EPS for the current year.
About Dada Nexus (Get Rating)
Dada Nexus Limited operates platform of local on-demand retail and delivery in China. It operates JDDJ, a local on-demand retail platform for consumers, retailers, and brand owners; and Dada Now, a local on-demand delivery platform for merchants and individual senders in various industries and product categories.
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