Brokerages Set VNET Group, Inc. (NASDAQ:VNET) Price Target at $9.30

Shares of VNET Group, Inc. (NASDAQ:VNET - Get Free Report) have received an average rating of "Buy" from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.30.

A number of analysts have commented on the stock. Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. Citigroup boosted their target price on shares of VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, StockNews.com raised shares of VNET Group from a "sell" rating to a "hold" rating in a research report on Monday.

VNET Group Stock Up 11.8 %

Shares of VNET Group stock traded up $0.74 during trading on Monday, reaching $7.01. 2,522,192 shares of the company traded hands, compared to its average volume of 4,169,394. The firm has a market capitalization of $1.80 billion, a PE ratio of -3.14, a P/E/G ratio of 1.01 and a beta of 0.15. VNET Group has a 1-year low of $1.71 and a 1-year high of $16.13. The company has a 50 day moving average price of $8.21 and a 200-day moving average price of $6.44. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The firm had revenue of $307.75 million for the quarter, compared to analyst estimates of $284.88 million. As a group, equities research analysts expect that VNET Group will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VNET. Barclays PLC grew its holdings in shares of VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 4,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in VNET Group in the 4th quarter valued at $41,000. Catalina Capital Group LLC purchased a new stake in shares of VNET Group during the 4th quarter valued at $54,000. Hsbc Holdings PLC purchased a new stake in shares of VNET Group during the 4th quarter valued at $66,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of VNET Group during the 4th quarter worth $80,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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.