VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Receives Consensus Rating of “Buy” from Analysts

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) has earned a consensus rating of “Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $9.96.

A number of equities analysts have recently issued reports on VNET shares. Wall Street Zen lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 23rd. Bank of America upped their target price on shares of VNET Group from $11.80 to $12.60 and gave the stock a “buy” rating in a research report on Friday, August 22nd.

Hedge Funds Weigh In On VNET Group

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in VNET Group by 111.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,197 shares of the information technology services provider’s stock valued at $670,000 after buying an additional 42,710 shares during the period. Cetera Investment Advisers acquired a new position in VNET Group in the fourth quarter valued at approximately $102,000. Amundi acquired a new position in VNET Group in the first quarter valued at approximately $5,093,000. Oppenheimer & Co. Inc. acquired a new position in VNET Group in the first quarter valued at approximately $207,000. Finally, Deutsche Bank AG acquired a new position in VNET Group in the first quarter valued at approximately $706,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Price Performance

NASDAQ:VNET opened at $10.76 on Thursday. The firm has a market cap of $2.89 billion, a PE ratio of -134.50, a price-to-earnings-growth ratio of 5.96 and a beta of 0.19. VNET Group has a 12 month low of $3.17 and a 12 month high of $16.13. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.40. The company’s 50-day moving average price is $8.62 and its two-hundred day moving average price is $7.36.

VNET Group (NASDAQ:VNET) last released its quarterly earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $339.65 million during the quarter, compared to analyst estimates of $2.27 billion. VNET Group had a net margin of 0.74% and a return on equity of 0.98%. VNET Group has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that VNET Group will post -0.06 EPS for the current fiscal year.

VNET Group declared that its Board of Directors has initiated a share buyback program on Friday, June 27th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

About VNET Group

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.