VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Stock Has Consensus Target Price of $16.90

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $16.90.

A number of equities analysts have recently commented on VNET shares. Morgan Stanley reissued an “overweight” rating and issued a $14.00 price target on shares of VNET Group in a report on Wednesday, August 19th. Weiss Ratings downgraded shares of VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. Wall Street Zen lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on VNET Group in a research note on Tuesday, July 7th. They issued a “buy” rating and a $12.50 target price on the stock.

VNET Group Price Performance

Shares of NASDAQ VNET opened at $5.55 on Monday. The firm has a market capitalization of $1.50 billion, a P/E ratio of -3.91 and a beta of 0.27. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 4.35. The stock’s 50-day simple moving average is $6.74 and its two-hundred day simple moving average is $8.12. VNET Group has a twelve month low of $5.43 and a twelve month high of $14.48.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The business had revenue of $409.00 million for the quarter, compared to analysts’ expectations of $401.77 million. VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. As a group, equities analysts anticipate that VNET Group will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On VNET Group

A number of hedge funds and other institutional investors have recently modified their holdings of VNET. Leonteq Securities AG bought a new position in VNET Group during the first quarter valued at approximately $25,000. Parallel Advisors LLC boosted its stake in shares of VNET Group by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 1,160 shares in the last quarter. Nykredit A S purchased a new stake in shares of VNET Group in the 2nd quarter valued at $89,000. Lido Advisors LLC bought a new position in shares of VNET Group during the 1st quarter valued at $126,000. Finally, Blue Trust Inc. grew its holdings in shares of VNET Group by 38.4% during the 1st quarter. Blue Trust Inc. now owns 17,791 shares of the information technology services provider’s stock valued at $149,000 after purchasing an additional 4,932 shares during the last quarter. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

VNET Group Company Profile

VNET Group, Inc (NASDAQ:VNET), formerly known as 21Vianet Group, is a China-based provider of data center and information technology infrastructure services. The company operates carrier-neutral data centers that support enterprise customers, cloud service providers, internet companies, financial institutions and other organizations requiring secure, reliable computing and network capacity.

Its services include data center hosting and colocation, managed network services, cloud computing infrastructure, internet connectivity, content delivery and related information technology solutions.