HomeAnalyst RatingsKeyBanc initiates Dada Nexus at Overweight and sets price target at...

KeyBanc initiates Dada Nexus [DADA] at Overweight and sets price target at $55

KeyBanc launched its Dada Nexus [DADA] rating to the equivalent of Overweight and assigned the price target of $55.0, in a research note dated 2021-01-08. That figure represents around a 31.74% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Morgan Stanley’s analysts downgrading the shares from “an Overweight” rating to “an Equal-weight” rating in a research note to investors issued in early December. Meanwhile, Goldman had raised its rating on DADA to “Buy” from the earlier “Neutral”, in a research note produced for clients November 11, 2020. In addition, New Street launched coverage on October 30, 2020. The research firm rated DADA “a Buy”.

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DADA Price Performance

On Wall Street, Dada Nexus Limited [NASDAQ:DADA] finished Thursday’s session up 4.64% at $41.75. The stock went up to $43.59 at the same session while its lowest single day price was $40.30. In the last five days, it saw a rise of about 11.07%, Dada Nexus Limited shares gained by almost 14.38% since the beginning of the year. However, the share price has dropped to as low as -31.86% below its one year high.

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DADA Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 40.17 level, and in case of violation of this particular level, it will cause more drop to 38.59 level. On the upper level, 45.17 is still the key resistance. The stock may increase to the subsequent resistance at 43.46. The Relative Strength Index (RSI) pinned on the 14-day chart is 55.01, implying a neutral technical stance while the MACD stands at 1.96, meaning price will increase in the next trading period. Percent R indicator moved to 20.51%, implying bullish price movement. Stochastic %K at 70.87% suggest selling the stock.

What is the short interest in Dada Nexus Limited?

Short interest in the Dada Nexus Limited stock has plunged, decreasing by -2.8 million shares to total 7.34 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 4.54 million, data from Yahoo Finance shows. The increase of 38.15% suggests the stock saw some increased bearish sentiment.

Dada Nexus Limited’s Biggest Shareholders: Who Owns Dada Nexus Limited [DADA]?

Filings by Rovida Advisors, Inc. showed that the firm now holds a total of 5,408,311 shares or roughly 2.41% of the outstanding DADA shares. This means their shares have increased by 441,457 from the 5,408,311 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Kylin Management LLC updated stake is worth $54,858,483. Details in the latest 13F filings reveal that Rokos Capital Management LLP acquired their 67.07% stake valued at $49,985,816. During the last quarter, Rokos Capital Management LLP raised 346,292 of its shares in Dada Nexus Limited while JPMorgan Investment Management, I bought 828,460 shares. The D1 Capital Partners LLC’s holdings currently number 750,000 shares at $31312500.0. According to the firm’s last 13F report, Baillie Gifford & Co. shares in the company at filing stood at 729,694 shares, roughly $42,285,767.

DADA Earnings Forecast For The Current Quarter

Dada Nexus Limited [DADA] is expected to report earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $310.02M and an earnings per share of -$0.27 for Dec 2020. Looking further ahead, the company is expected to report revenue of $242.71M at an EPS of -$0.22 for Mar 2021. The estimates represent 59.00% and 44.10% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.

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DADA Earnings Estimates For The Current Year

For the financial year, Dada Nexus Limited [NASDAQ:DADA] is expected to bring in revenue of $891.25M. The returns are nearly $730.29 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -1.24. Estimates put next year’s earnings growth at 42.70%, and at an annual -31.35% over the next 5-year period. As for sales, forecasts are for an increase of 453.70% in the current fiscal year and a further 59.00% over the following year.

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