Dada Nexus Limited (NASDAQ:DADA) Receives $3.35 Consensus Target Price from Analysts

Shares of Dada Nexus Limited (NASDAQ:DADA) have been given a consensus rating of “Hold” by the eight ratings firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $3.35.

Several analysts have recently commented on DADA shares. Citigroup upgraded shares of Dada Nexus from a “sell” rating to a “neutral” rating and increased their target price for the company from $1.00 to $1.50 in a report on Wednesday, August 21st. Daiwa Capital Markets initiated coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating for the company. Finally, Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd.

Dada Nexus Price Performance

Shares of DADA stock opened at $1.23 on Friday. The firm has a 50-day moving average of $1.26 and a 200-day moving average of $1.66. The company has a market cap of $325.38 million, a P/E ratio of -0.96 and a beta of 1.33. Dada Nexus has a one year low of $1.04 and a one year high of $4.98.

Dada Nexus (NASDAQ:DADA) last announced its earnings results on Tuesday, August 20th. The company reported ($0.09) EPS for the quarter. The firm had revenue of $324.54 million during the quarter. Dada Nexus had a negative net margin of 19.81% and a negative return on equity of 10.94%.

Hedge Funds Weigh In On Dada Nexus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DADA. Jump Financial LLC bought a new position in Dada Nexus during the fourth quarter worth about $42,000. Fore Capital LLC bought a new position in Dada Nexus during the first quarter worth about $92,000. Headlands Technologies LLC boosted its position in Dada Nexus by 615.5% during the first quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock worth $83,000 after purchasing an additional 34,963 shares during the period. Vanguard Group Inc. boosted its position in Dada Nexus by 25.0% during the first quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock worth $7,027,000 after purchasing an additional 686,316 shares during the period. Finally, Natixis bought a new position in Dada Nexus during the first quarter worth about $51,000. Institutional investors own 59.25% of the company’s stock.

Dada Nexus Company Profile

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 platforms for consumers, retailers, and brand owners.