Citigroup Issues Pessimistic Forecast for Dada Nexus (NASDAQ:DADA) Stock Price

Dada Nexus (NASDAQ:DADA) had its price objective cut by investment analysts at Citigroup from $2.00 to $1.90 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 37.68% from the stock’s current price.

Several other research analysts have also recently weighed in on DADA. Mizuho reduced their price objective on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Daiwa America raised Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Finally, Daiwa Capital Markets assumed coverage on shares of Dada Nexus in a report on Thursday, August 22nd. They issued a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.02.

Dada Nexus Price Performance

NASDAQ:DADA opened at $1.38 on Friday. The business’s 50-day simple moving average is $1.62 and its 200-day simple moving average is $1.54. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $4.12. The stock has a market capitalization of $358.53 million, a PE ratio of -1.24 and a beta of 1.39.

Dada Nexus (NASDAQ:DADA) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.09) earnings per share for the quarter. Dada Nexus had a negative net margin of 20.95% and a negative return on equity of 12.39%. The company had revenue of $324.54 million during the quarter.

Institutional Trading of Dada Nexus

Several institutional investors and hedge funds have recently added to or reduced their stakes in DADA. Vanguard Group Inc. raised its stake in Dada Nexus by 25.0% in the first quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock valued at $7,027,000 after buying an additional 686,316 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Dada Nexus by 28.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock worth $2,170,000 after acquiring an additional 380,100 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Dada Nexus by 202.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after acquiring an additional 413,600 shares during the period. Virtu Financial LLC acquired a new stake in Dada Nexus during the 1st quarter valued at $28,000. Finally, Headlands Technologies LLC lifted its holdings in Dada Nexus by 111.2% during the 2nd quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock valued at $108,000 after purchasing an additional 45,192 shares during the last quarter. 59.25% of the stock is owned by institutional investors.

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.