CLSA Initiates Coverage of Dada Nexus Ltd - ADR (DADA) with Outperform Recommendation

Fintel reports that on November 17, 2023, CLSA initiated coverage of Dada Nexus Ltd - ADR (NASDAQ:DADA) with a Outperform recommendation.

Analyst Price Forecast Suggests 134.40% Upside

As of November 1, 2023, the average one-year price target for Dada Nexus Ltd - ADR is 9.17. The forecasts range from a low of 4.83 to a high of $21.74. The average price target represents an increase of 134.40% from its latest reported closing price of 3.91.

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The projected annual revenue for Dada Nexus Ltd - ADR is 13,017MM, an increase of 19.05%. The projected annual non-GAAP EPS is 1.86.

What is the Fund Sentiment?

There are 123 funds or institutions reporting positions in Dada Nexus Ltd - ADR. This is a decrease of 21 owner(s) or 14.58% in the last quarter. Average portfolio weight of all funds dedicated to DADA is 0.58%, an increase of 21.74%. Total shares owned by institutions decreased in the last three months by 4.21% to 68,721K shares. The put/call ratio of DADA is 1.04, indicating a bearish outlook.

What are Other Shareholders Doing?

Kaizen Capital Partners holds 12,282K shares representing 4.69% ownership of the company. In it's prior filing, the firm reported owning 11,493K shares, representing an increase of 6.42%. The firm increased its portfolio allocation in DADA by 29.28% over the last quarter.

Jpmorgan Chase holds 8,622K shares representing 3.29% ownership of the company. In it's prior filing, the firm reported owning 9,305K shares, representing a decrease of 7.93%. The firm decreased its portfolio allocation in DADA by 21.16% over the last quarter.

Baillie Gifford holds 7,490K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 7,414K shares, representing an increase of 1.01%. The firm decreased its portfolio allocation in DADA by 66.70% over the last quarter.

Galileo holds 6,569K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 6,570K shares, representing a decrease of 0.01%. The firm increased its portfolio allocation in DADA by 8.37% over the last quarter.

Tekne Capital Management holds 6,487K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 4,561K shares, representing an increase of 29.70%. The firm increased its portfolio allocation in DADA by 41.80% over the last quarter.

Dada Nexus Background Information
(This description is provided by the company.)

Dada Group is a leading platform of local on-demand retail and delivery in China. It operates JDDJ, one of China's largest local on-demand retail platforms for retailers and brand owners, and Dada Now, a leading local on-demand delivery platform open to merchants and individual senders across various industries and product categories. The Company's two platforms are inter-connected and mutually beneficial. The Dada Now platform enables improved delivery experience for participants on the JDDJ platform through its readily accessible fulfillment solutions and strong on-demand delivery infrastructure. Meanwhile, the vast volume of on-demand delivery orders from the JDDJ platform increases order volume and density for the Dada Now platform.

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