叮咚买菜（DDL）今日盘中股价大跌5.67%，引发市场关注。这一跌势可能与多家券商最新发布的研报有关。
中信证券虽然维持叮咚买菜"买入"评级，但预计公司2025年第一季度Non-GAAP净利润同比下降14.7%至3,348万元。中信证券分析师指出，公司业绩受到农产品价格下行及市场竞争加剧的影响。不过，长期来看，公司的好商品战略和海外业务协同有望增强其竞争力并拓展利润空间。
中金公司则将叮咚买菜的目标价下调至3美元，尽管维持"跑赢行业"评级。中金分析师下调了2025年和2026年的收入和净利润预测，主要原因是公司商品结构调整和客单价下滑。尽管如此，中金仍看好公司的商品力建设和B端收入提升，预计2025年non-GAAP净利润为4.0亿元，对应13倍市盈率，上行空间为27%。然而，分析师也提醒投资者注意宏观消费疲软和竞争加剧的风险。
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