New Street Research - Dada Nexus Ltd (DADA US) DADA 2Q24 Results: Resiliency in Dada Now to Partly Offset Decline in JD Now

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New Street Research

Jin Yoon

DADA 2Q24 Results: Resiliency in Dada Now to Partly Offset Decline in JD Now

What’s new: DADA’s reported results that were above consensus and our expectations. Dada Now could remain resilient partly driven by KA. JD Now could be challenging in the near-term as the segment undergoes business adjustments in OMS. We lower our PT from USD2.0 to USD1.4 as JD Now could take time to recover. Our updated PT of USD1.4 implies a -0.07x FY25E EV/Revs. We maintain our NEUTRAL rating.

Analysts:
Jin Yoon

21/08/2024 1 EN

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Dada Nexus Ltd

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New Street Research

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Analysts

Jin Yoon

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DADA 2Q24 Results: Resiliency in Dada Now to Partly Offset Decline in JD Now

DADA 4Q24 Preview: Lowering Estimates

DADA 3Q24 Results: Monetization Could Take Some Time

DADA 3Q24 Preview: Estimates Remain Intact

Expert Call Recap: What's Next for the TikTok Ban?

VEON (Buy, TP: US$ 65/ADR, +47%) VEON's Kyivstar announces intention to list in US via SPAC; the only Ukrainian-focused asset listed on Nasdaq?

Axiata (Buy, RM 4.5, +92%) Our takeaway from Investor Day 2025; Shares look to have finally bottomed

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