Analysts Set VNET Group, Inc. (NASDAQ:VNET) PT at $9.30

Shares of VNET Group, Inc. (NASDAQ:VNET) have been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $9.30.

A number of analysts have issued reports on the company. StockNews.com downgraded VNET Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Nomura Securities raised VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Citigroup boosted their target price on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 14th.

VNET Group Stock Up 2.3 %

VNET stock opened at $5.90 on Thursday. VNET Group has a twelve month low of $1.42 and a twelve month high of $16.13. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The stock has a market cap of $1.52 billion, a P/E ratio of -2.66, a PEG ratio of 1.01 and a beta of 0.15. The business’s 50-day moving average price is $9.99 and its 200-day moving average price is $6.30.

VNET Group (NASDAQ:VNET) last issued its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The business had revenue of $307.75 million for the quarter, compared to the consensus estimate of $284.88 million. On average, equities research analysts forecast that VNET Group will post -0.06 EPS for the current year.

Hedge Funds Weigh In On VNET Group

A number of large investors have recently bought and sold shares of VNET. Triata Capital Ltd purchased a new position in VNET Group during the 4th quarter valued at $47,377,000. D. E. Shaw & Co. Inc. purchased a new position in VNET Group during the 4th quarter valued at $7,183,000. Man Group plc purchased a new stake in shares of VNET Group in the 4th quarter worth $5,094,000. Bank of America Corp DE lifted its holdings in shares of VNET Group by 610.2% in the 4th quarter. Bank of America Corp DE now owns 1,198,750 shares of the information technology services provider’s stock worth $5,682,000 after buying an additional 1,029,963 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of VNET Group by 622.8% in the 4th quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock worth $4,690,000 after buying an additional 852,519 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Company Profile

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.