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Dada Nexus Limited (NASDAQ: DADA) Has Great Upside Potential

Dada Nexus Limited (NASDAQ:DADA) shares, rose in value on Thursday, 06/23/22, with the stock price up by 6.20% to the previous day’s close as strong demand from buyers drove the stock to $8.56.

Actively observing the price movement in the last trading, the stock closed the session at $8.06, falling within a range of $8.03 and $8.585. Referring to stock’s 52-week performance, its high was $32.50, and the low was $5.00. On the whole, DADA has fluctuated by 30.69% over the past month.

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With the market capitalization of Dada Nexus Limited currently standing at about $2.05 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 07, 2022 – Mar 11, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.24, which is expected to increase to -$0.05 for fiscal year -$0.63 and then to about $0.45 by fiscal year 2023. Data indicates that the EPS growth is expected to be 52.60% in 2023, while the next year’s EPS growth is forecast to be 171.40%.

Analysts have estimated the company’s revenue for the quarter at $300.34 million, with a low estimate of $298.97 million and a high estimate of $304.34 million. According to the average forecast, sales growth in current quarter could jump up 30.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $1.52 billion, representing an increase of 47.40% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that DADA’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of DADA currently trading nearly 15.86% and 16.07% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 59.37, while the 7-day volatility ratio is showing 7.03% which for the 30-day chart, stands at 8.22%. Furthermore, Dada Nexus Limited (DADA)’s average true range (ATR) is 0.73. The company’s stock has been forecasted to trade at an average price of $110.96 over the course of the next 52 weeks, with a low of $63.14 and a high of $188.19. Based on these price targets, the low is -637.62% off current price, whereas the price has to move -2098.48% to reach the yearly target high. Additionally, analysts’ median price of $99.49 is likely to be welcomed by investors because it represents a decrease of -1062.27% from the current levels.

A comparison of Dada Nexus Limited (DADA) with its peers suggests the former has fared considerably weaker in the market. DADA showed an intraday change of 6.20% in last session, and over the past year, it shrunk by -71.47%%. Additionally, there is a gain of 0.78% for JD.com Inc. (JD) in last trading while the stock has seen an overall depriciation of -13.23%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.95%. Meanwhile, the Dow Jones Industrial Improved by 0.64%.

Data on historical trading for Dada Nexus Limited (NASDAQ:DADA) indicates that the trading volumes over the past 10 days have averaged 1.36 million and over the past 3 months, they’ve averaged 1.62 million. According to company’s latest data on outstanding shares, there are 243.15 million shares outstanding.

Nearly 3.04% of Dada Nexus Limited’s shares belong to company insiders and institutional investors own 22.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.2 million shares as on Apr 28, 2022, resulting in a short ratio of 2.3. According to the data, the short interest in Dada Nexus Limited (DADA) stood at 1.23% of shares outstanding as of Apr 28, 2022; the number of short shares registered in Mar 30, 2022 reached 2.9 million. The stock has fallen by -34.95% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DADA stock heading into the next quarter.

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