Dada Nexus (NASDAQ:DADA) Receives New Coverage from Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Dada Nexus (NASDAQ:DADA) in a research note released on Thursday morning, MarketBeat reports. The brokerage issued a neutral rating and a $2.10 price objective on the stock.

Other equities analysts have also recently issued reports about the company. New Street Research reaffirmed a neutral rating and set a $2.00 price objective (down from $15.00) on shares of Dada Nexus in a report on Wednesday, March 6th. Citigroup cut Dada Nexus from a buy rating to a sell rating in a report on Monday, January 8th. Daiwa Capital Markets raised Dada Nexus from a neutral rating to a buy rating and set a $3.50 price objective for the company in a report on Tuesday, February 20th. Finally, Mizuho reduced their price objective on Dada Nexus from $7.00 to $6.00 and set a buy rating for the company in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $4.85.

Dada Nexus Price Performance

DADA opened at $2.00 on Thursday. The business has a 50 day simple moving average of $2.16 and a 200-day simple moving average of $2.74. Dada Nexus has a 12 month low of $1.36 and a 12 month high of $7.03.

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

Hedge Funds Weigh In On Dada Nexus

A number of institutional investors have recently made changes to their positions in the stock. TT International Asset Management LTD raised its holdings in shares of 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 acquiring an additional 852,790 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Dada Nexus by 170.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock valued at $71,000 after purchasing an additional 13,447 shares during the period. Jump Financial LLC purchased a new stake in shares of Dada Nexus in the fourth quarter valued at $42,000. ABS Direct Equity Fund LLC purchased a new stake in shares of Dada Nexus in the fourth quarter valued at $667,000. Finally, TimesSquare Capital Management LLC grew its position in shares of Dada Nexus by 32.3% in the third quarter. TimesSquare Capital Management LLC now owns 305,800 shares of the company’s stock valued at $1,361,000 after purchasing an additional 74,700 shares during the period. 59.25% of the stock is owned by institutional investors and hedge funds.

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.