The Goldman Sachs Group Initiates Coverage on Dada Nexus (NASDAQ:DADA)

The Goldman Sachs Group began coverage on shares of Dada Nexus (NASDAQ:DADA) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $2.10 price target on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 4.48% from the stock’s previous close.

Several other brokerages have also recently issued reports on DADA. Daiwa Capital Markets upgraded shares of Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 target price on the stock in a report on Tuesday, February 20th. New Street Research restated a “neutral” rating and issued a $2.00 target price (down previously from $15.00) on shares of Dada Nexus in a report on Wednesday, March 6th. Mizuho cut their target price 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. Finally, Citigroup cut shares of Dada Nexus from a “buy” rating to a “sell” rating in a report 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. According to MarketBeat.com, Dada Nexus presently has a consensus rating of “Hold” and a consensus price target of $4.85.

Dada Nexus Price Performance

Shares of NASDAQ DADA opened at $2.01 on Thursday. Dada Nexus has a one year low of $1.36 and a one year high of $7.03. The firm’s 50 day simple moving average is $2.16 and its two-hundred day simple moving average is $2.73. The stock has a market capitalization of $526.64 million, a P/E ratio of -1.53 and a beta of 1.50.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings results on Monday, March 25th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). Dada Nexus had a negative net margin of 22.62% and a negative return on equity of 14.06%. The business had revenue of $381.95 million for the quarter, compared to the consensus estimate of $436.80 million. As a group, equities analysts expect that Dada Nexus will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Dada Nexus

Several large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its position in Dada Nexus by 170.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock valued at $71,000 after buying an additional 13,447 shares during the period. Kaizen Capital Partners Ltd boosted its holdings in shares of Dada Nexus by 6.9% during the 3rd 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 in the last quarter. Aviva PLC boosted its holdings in shares of Dada Nexus by 56.0% during the 3rd 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 in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Dada Nexus by 135.5% during the 3rd 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 in the last quarter. Finally, Lansdowne Partners UK LLP bought a new stake in shares of Dada Nexus during the 3rd quarter valued at $2,920,000. 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.