VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET) Receives $9.30 Consensus Price Target from Analysts

VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) has been assigned an average recommendation of "Buy" from the six ratings firms that are currently covering the firm, 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 twelve-month price target among brokers that have covered the stock in the last year is $9.30.

VNET has been the subject of a number of recent research reports. Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a report on Friday, February 21st. Wall Street Zen raised VNET Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 15th. Finally, Citigroup increased their price objective on VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a report on Friday, March 14th.

VNET Group Price Performance

Shares of NASDAQ VNET traded up $0.01 during midday trading on Tuesday, reaching $5.45. The company's stock had a trading volume of 1,183,425 shares, compared to its average volume of 4,709,637. VNET Group has a one year low of $1.71 and a one year high of $16.13. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -545.50, a price-to-earnings-growth ratio of 1.21 and a beta of 0.09. The company has a 50 day moving average price of $5.83 and a 200 day moving average price of $7.03. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.34.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $309.52 million during the quarter, compared to the consensus estimate of $2.22 billion. VNET Group had a net margin of 1.66% and a return on equity of 2.11%. During the same period in the prior year, the company posted ($0.28) EPS. On average, equities research analysts expect that VNET Group will post -0.06 EPS for the current year.

Institutional Trading of VNET Group

Several hedge funds have recently added to or reduced their stakes in VNET. Asset Management One Co. Ltd. acquired a new position in VNET Group during the 4th quarter valued at $152,000. Hsbc Holdings PLC bought a new position in shares of VNET Group during the 4th quarter worth about $66,000. Cetera Investment Advisers acquired a new position in shares of VNET Group during the fourth quarter valued at about $102,000. Barclays PLC lifted its stake 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 buying an additional 4,939 shares during the period. Finally, Norges Bank acquired a new stake in VNET Group during the fourth quarter worth about $1,708,000. 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.