Dada Nexus Limited (NASDAQ:DADA) Receives Consensus Rating of “Buy” from Brokerages

Shares of Dada Nexus Limited (NASDAQ:DADA – Get Rating) have received an average rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $24.05.

Several research firms have issued reports on DADA. Credit Suisse Group upgraded shares of Dada Nexus from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $25.00 to $17.50 in a research note on Wednesday, March 9th. Mizuho lowered their target price on shares of Dada Nexus from $18.00 to $16.50 in a research note on Tuesday, May 17th. Bank of America lowered their target price on shares of Dada Nexus from $35.40 to $28.70 and set a “buy” rating on the stock in a research note on Wednesday, March 9th. Finally, JPMorgan Chase & Co. raised shares of 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.

DADA opened at $8.00 on Wednesday. The stock has a market capitalization of $2.08 billion, a P/E ratio of -5.19 and a beta of 1.53. The company’s 50-day simple moving average is $7.34 and its two-hundred day simple moving average is $9.57. Dada Nexus has a 52-week low of $5.00 and a 52-week high of $32.50.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Dada Nexus by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,636 shares of the company’s stock worth $1,114,000 after acquiring an additional 1,410 shares in the last quarter. Eaton Vance Management purchased a new stake in Dada Nexus in the 3rd quarter worth approximately $37,000. GAM Holding AG increased its holdings in Dada Nexus by 2.6% in the 1st quarter. GAM Holding AG now owns 97,496 shares of the company’s stock worth $890,000 after acquiring an additional 2,496 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Dada Nexus by 15.2% in the 1st quarter. Vontobel Holding Ltd. now owns 20,565 shares of the company’s stock worth $188,000 after acquiring an additional 2,710 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Dada Nexus by 7.0% in the 4th quarter. First Trust Advisors LP now owns 42,963 shares of the company’s stock worth $565,000 after acquiring an additional 2,828 shares in the last quarter. 24.15% of the stock is owned by hedge funds and other institutional investors.

Dada Nexus Company Profile (Get Rating)

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.

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