New Street Research - Dada Nexus Ltd (DADA US) DADA 3Q23 Results: Business to Remain Resilient in FY24

Report

New Street Research

Jin Yoon

DADA 3Q23 Results: Business to Remain Resilient in FY24

What's new: Dada Nexus’ reported 3Q revs were largely in-line with consensus estimates. Guidance reflects strong Singles Day performance which is partly offset by the soft demand environment in Oct due to Golden Week holiday and uncertainties heading into the 2H of 4Q. We maintain our PT at USD15 and maintain our BUY rating.

Analysts:
Jin Yoon

17/11/2023 1 EN

Underlying

Dada Nexus Ltd

See profile

Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

See profile

Analysts

Jin Yoon

Other Reports on these Companies

New Street Research

DADA 4Q23 Results: Near-Term Visibility Limited Amid Ongoing Biz Adjustments

What’s new: As the new management has only been established for less than a month, it would take time for the new team to review each business line and make appropriate adjustments. Hence, visibility could remain limited in the near-term. We maintain our PT at USD2.0 and maintain our NEUTRAL rating. While long-term fundamentals remain intact, it would take time for the stock to gain traction and to win back investors’ trust. Analysts: Jin Yoon

March 27, 2024 March 27, 2024 1 EN

New Street Research

DADA Findings of Independent Review: Implications to JD.com

What’s New: DADA announced the results of the previously disclosed independent review regarding certain suspicious practices that were identified during its routine internal audit – which is now substantially completed. In addition to reversing the overstated revenues and associated operations and support costs in 9M23, DADA has prepared a remediation plan including but not limited to 1) disciplinary actions to selected employees including replacing the company’s president; 2) terminating contracts with suppliers and customers that were part of the transactions; 3) enhancement of internal cont...

March 6, 2024 March 6, 2024 1 EN

FYBR 1Q24 Quick Take: Strong financial results powered by ARPU growth

Financial results were better than expected, driven by very strong ARPU growth. Subscriber trends were mostly in-line. We suspect EBITDA estimates have to inch up towards the high-end of guidance following these results. This is the one investable broadband stock that is delivering strong results in a difficult market.

EUR 9318.00

1h / 5m 1h / 5m 1 EN

Dan Salmon

Dan Salmon

Reddit (RDDT, Hold, $54 Target) Quick Thoughts Ahead of Tuesday’s Print

Ahead of Tuesday PM’s earnings report, we review key controversies for RDDT, including: 1. How sustainable is accelerating DAUq growth? 2. Potential Open AI deal announcement, and a broader look at the data licensing landscape 3. New gen AI tools to help SMB advertiser growth, dynamic product ads launch too We also review what to listen for on the earnings call, our top questions for management, potential positive and negative catalysts for RDDT.

EUR 9318.00

1h / 47m 1h / 47m 1 EN

Dominic Rose ... (+2)

Dominic Rose
Naresh Chouhan

Sanofi - The Path to €120 (BUY, TP EUR120 [110], 7pgs)

This new analysis shows how Sanofi shares get to €120 (+c.30%) by end 2025. We have conducted a foundational analysis that investors can refer to over the next 18mths as Sanofi releases at least 15 P2 & P3 pipeline readouts. We show the upside potential from every single readout and show that just 4 drugs could add €18/share upon successful readouts. In addition to multiple readouts, the likely Consumer Health spin in Q4, the tolebrutinib overhang being resolved one way or another and a strong COPD launch will set Sanofi up for a strong H224 and even stronger 2025, in our view. We increase our...

EUR 4659.00

6h / 56m 6h / 56m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

DADA 3Q23 Results: Business to Remain Resilient in FY24

DADA 4Q23 Results: Near-Term Visibility Limited Amid Ongoing Biz Adjustments

DADA Findings of Independent Review: Implications to JD.com

FYBR 1Q24 Quick Take: Strong financial results powered by ARPU growth

Reddit (RDDT, Hold, $54 Target) Quick Thoughts Ahead of Tuesday’s Print

Sanofi - The Path to €120 (BUY, TP EUR120 [110], 7pgs)

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe