VNET Group, Inc. (NASDAQ:VNET) Receives Average Rating of "Buy" from Analysts

Shares of VNET Group, Inc. (NASDAQ:VNET - Get Free Report) have received an average recommendation of "Buy" from the six research firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $9.30.

A number of equities analysts recently issued reports on the company. Wall Street Zen raised VNET Group from a "sell" rating to a "hold" rating in a report on Sunday. Citigroup raised their price target on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Finally, Nomura Securities raised VNET Group to a "strong-buy" rating in a report on Friday, February 21st.

VNET Group Stock Up 4.4%

Shares of NASDAQ VNET opened at $5.68 on Tuesday. The stock has a market cap of $1.53 billion, a P/E ratio of -2.56, a PEG ratio of 1.01 and a beta of 0.09. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. VNET Group has a 12-month low of $1.71 and a 12-month high of $16.13. The business's fifty day simple moving average is $5.85 and its 200-day simple moving average is $7.04.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $2.22 billion. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. During the same quarter in the previous year, the business posted ($0.28) earnings per share. As a group, equities analysts predict that VNET Group will post -0.06 EPS for the current fiscal year.

Institutional Trading of VNET Group

Large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in VNET Group in the 1st quarter valued at about $36,000. Summit Securities Group LLC purchased a new position in VNET Group in the 1st quarter valued at about $40,000. Barclays PLC boosted its position in VNET Group by 229.3% in the 4th 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 last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in VNET Group in the 4th quarter valued at about $41,000. Finally, Liontrust Investment Partners LLP purchased a new position in VNET Group in the 1st quarter valued at about $78,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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.

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