Mizuho Cuts Dada Nexus (NASDAQ:DADA) Price Target to $5.00

Dada Nexus (NASDAQ:DADA) had its price target trimmed by Mizuho from $6.00 to $5.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

DADA has been the subject of several other research reports. Daiwa America lowered Dada Nexus from a strong-buy rating to a moderate buy rating in a research report on Thursday, May 16th. Daiwa Capital Markets downgraded shares of Dada Nexus from a buy rating to a neutral rating in a report on Thursday, May 16th. The Goldman Sachs Group initiated coverage on shares of Dada Nexus in a report on Thursday, April 25th. They set a neutral rating and a $2.10 target price on the stock. Finally, New Street Research restated a neutral rating and issued a $2.00 price target (down from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $3.66.

Dada Nexus Trading Down 3.7 %

DADA stock opened at $1.80 on Tuesday. The company has a market capitalization of $476.17 million, a P/E ratio of -1.41 and a beta of 1.46. The firm has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $2.46. Dada Nexus has a twelve month low of $1.36 and a twelve month high of $6.94.

Dada Nexus (NASDAQ:DADA) last released its earnings results on Monday, March 25th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Dada Nexus had a negative return on equity of 14.73% and a negative net margin of 22.77%. The company had revenue of $381.95 million during the quarter, compared to the consensus estimate of $436.80 million. On average, research analysts predict that Dada Nexus will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Dada Nexus

Several institutional investors have recently modified their holdings of DADA. TT International Asset Management LTD boosted its stake in Dada Nexus by 33.9% during the 4th quarter. TT International Asset Management LTD now owns 3,367,558 shares of the company’s stock valued at $11,180,000 after purchasing an additional 852,790 shares during the period. Federated Hermes Inc. raised its holdings in shares of Dada Nexus by 135.5% during the third 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 during the last quarter. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 686,316 shares during the period. Lansdowne Partners UK LLP bought a new position in Dada Nexus in the 3rd quarter worth approximately $2,920,000. Finally, Aviva PLC increased its position in Dada Nexus by 56.0% in the 3rd quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock valued at $6,422,000 after acquiring an additional 518,113 shares during the period. 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 platforms for consumers, retailers, and brand owners.