VNET Group, Inc. (NASDAQ:VNET) Receives Consensus Rating of "Buy" from Brokerages

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) has been assigned a consensus recommendation of "Buy" from the six research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.30.

Several brokerages have recently issued reports on VNET. Citigroup lifted their target price on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Wall Street Zen downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Finally, Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a report on Friday, February 21st.

VNET Group Price Performance

Shares of VNET traded down $0.65 during mid-day trading on Friday, reaching $5.39. The stock had a trading volume of 9,886,049 shares, compared to its average volume of 4,584,022. The business has a fifty day moving average of $6.35 and a 200 day moving average of $6.81. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -2.43, a PEG ratio of 1.01 and a beta of 0.14. VNET Group has a 12 month low of $1.71 and a 12 month high of $16.13.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The business had revenue of $307.75 million during the quarter, compared to analysts' expectations of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. Equities analysts predict 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 bought a new stake in shares of VNET Group during the fourth quarter worth $47,377,000. Canada Pension Plan Investment Board purchased a new position in VNET Group in the 1st quarter worth about $27,463,000. Taikang Asset Management Hong Kong Co Ltd bought a new stake in VNET Group during the 1st quarter valued at about $27,210,000. Royal Bank of Canada lifted its holdings in VNET Group by 2,304,491.9% during the 1st quarter. Royal Bank of Canada now owns 1,705,398 shares of the information technology services provider's stock valued at $13,985,000 after buying an additional 1,705,324 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new stake in VNET Group in the 4th quarter valued at about $7,183,000. 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.