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

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

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

Dada Nexus Stock Performance

Shares of DADA stock opened at $1.79 on Tuesday. Dada Nexus has a 52-week low of $1.36 and a 52-week high of $6.94. The stock has a market cap of $473.53 million, a price-to-earnings ratio of -1.40 and a beta of 1.46. The firm has a fifty day moving average of $2.03 and a 200-day moving average of $2.44.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DADA. TT International Asset Management LTD boosted its stake in shares of Dada Nexus by 33.9% in 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 last quarter. Federated Hermes Inc. boosted its stake in shares of Dada Nexus by 135.5% in the 3rd quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock valued at $5,354,000 after purchasing an additional 692,120 shares during the last quarter. Vanguard Group Inc. boosted its stake in Dada Nexus by 25.0% during the 1st quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock worth $7,027,000 after acquiring an additional 686,316 shares during the last quarter. Lansdowne Partners UK LLP bought a new position in Dada Nexus during the 3rd quarter worth approximately $2,920,000. Finally, Aviva PLC boosted its stake in Dada Nexus by 56.0% during the 3rd quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock worth $6,422,000 after acquiring an additional 518,113 shares during the last quarter. 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.