Dada Nexus (NASDAQ:DADA) Posts Earnings Results, Beats Expectations By $0.07 EPS

Dada Nexus (NASDAQ:DADA) issued its earnings results on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.07, Yahoo Finance reports. Dada Nexus had a negative net margin of 35.94% and a negative return on equity of 36.22%. During the same period in the previous year, the company earned ($0.25) EPS. Dada Nexus updated its Q4 2021 guidance to EPS.

DADA stock traded down $0.82 during mid-day trading on Friday, hitting $22.79. 752,431 shares of the company were exchanged, compared to its average volume of 1,291,595. The firm has a market capitalization of $5.44 billion, a P/E ratio of -14.80 and a beta of 1.27. The business has a fifty day simple moving average of $21.47 and a 200-day simple moving average of $23.52. Dada Nexus has a 12-month low of $17.57 and a 12-month high of $61.27.

Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Dada Nexus from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley raised shares of Dada Nexus from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $35.00 to $31.60 in a research note on Wednesday, September 22nd. Finally, KeyCorp decreased their price objective on shares of Dada Nexus from $47.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, September 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $37.12.

A hedge fund recently raised its stake in Dada Nexus stock. Morgan Stanley grew its stake in shares of Dada Nexus Limited (NASDAQ:DADA) by 15.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 268,598 shares of the company’s stock after purchasing an additional 35,476 shares during the quarter. Morgan Stanley owned approximately 0.11% of Dada Nexus worth $5,383,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 21.88% of the company’s stock.

About Dada Nexus

Dada Nexus Limited operates platform of local on-demand retail and delivery in China. It operates JDDJ, a local on-demand retail platform for consumers, retailers, and brand owners; and Dada Now, a local on-demand delivery platform for merchants and individual senders in various industries and product categories.

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Earnings History for Dada Nexus (NASDAQ:DADA)

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