Dada Nexus (NASDAQ:DADA) PT Raised to $37.00 at Citigroup

Dada Nexus (NASDAQ:DADA) had its price target raised by investment analysts at Citigroup from $36.00 to $37.00 in a research report issued on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 19.39% from the company’s current price.

A number of other equities research analysts also recently commented on DADA. KeyCorp reduced their target price on Dada Nexus from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 10th. JPMorgan Chase & Co. initiated coverage on Dada Nexus in a research report on Wednesday. They issued an “overweight” rating and a $40.00 target price on the stock. Zacks Investment Research upgraded Dada Nexus from a “sell” rating to a “hold” rating in a research report on Wednesday, May 12th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on Dada Nexus in a research report on Tuesday, May 4th. They issued a “buy” rating and a $36.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Dada Nexus has a consensus rating of “Buy” and a consensus target price of $38.88.

NASDAQ DADA opened at $30.99 on Wednesday. The stock’s fifty day moving average is $24.71. The firm has a market capitalization of $7.31 billion and a price-to-earnings ratio of -17.12. Dada Nexus has a fifty-two week low of $14.60 and a fifty-two week high of $61.27.

Dada Nexus (NASDAQ:DADA) last released its quarterly earnings data on Sunday, June 6th. The company reported ($2.60) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.46) by ($0.14). Dada Nexus had a negative return on equity of 36.39% and a negative net margin of 33.88%. As a group, research analysts forecast that Dada Nexus will post -1.54 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN purchased a new stake in shares of Dada Nexus in the 4th quarter valued at $51,000. Pinebridge Investments L.P. purchased a new stake in Dada Nexus during the 1st quarter worth about $124,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Dada Nexus during the 1st quarter worth about $181,000. Northern Trust Corp purchased a new stake in Dada Nexus during the 4th quarter worth about $202,000. Finally, AlpInvest Partners B.V. purchased a new stake in Dada Nexus during the 4th quarter worth about $211,000. Hedge funds and other institutional investors own 19.48% of the company’s stock.

Dada Nexus Company Profile

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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