VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET) Given Consensus Rating of "Buy" by Analysts

Key Points

• VNET Group, Inc. has received a consensus rating of "Buy" from analysts, with an average target price set at $9.96.
• Bank of America recently increased its price target for VNET Group from $11.80 to $12.60, maintaining its buy rating.
• Institutional investors hold 72.83% of VNET Group's stock, with several firms significantly increasing their stakes in the company during recent quarters.

Shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) have been given a consensus recommendation of "Buy" by the seven brokerages that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $9.96.

Several research analysts recently commented on the company. Bank of America boosted their price target on VNET Group from $11.80 to $12.60 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Wall Street Zen cut VNET Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 23rd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Infini Capital Management Ltd lifted its stake in shares of VNET Group by 39.2% in the second quarter. Infini Capital Management Ltd now owns 9,758,083 shares of the information technology services provider's stock worth $67,331,000 after acquiring an additional 2,747,661 shares in the last quarter. Norges Bank acquired a new stake in VNET Group during the second quarter valued at approximately $54,199,000. Oxbow Capital Management HK Ltd raised its stake in VNET Group by 64.3% during the second quarter. Oxbow Capital Management HK Ltd now owns 5,750,000 shares of the information technology services provider's stock valued at $39,675,000 after buying an additional 2,250,000 shares in the last quarter. Vanguard Group Inc. raised its stake in VNET Group by 5.3% during the first quarter. Vanguard Group Inc. now owns 5,495,446 shares of the information technology services provider's stock valued at $45,063,000 after buying an additional 278,496 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in VNET Group during the first quarter valued at approximately $27,463,000. Institutional investors and hedge funds own 72.83% of the company's stock.

VNET Group Price Performance

Shares of NASDAQ VNET opened at $10.37 on Thursday. VNET Group has a 1-year low of $3.17 and a 1-year high of $16.13. The business has a 50-day moving average of $8.41 and a 200-day moving average of $7.38. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -129.63, a PEG ratio of 5.95 and a beta of 0.16.

VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). VNET Group had a return on equity of 0.98% and a net margin of 0.74%.The business had revenue of $339.65 million during the quarter, compared to analyst estimates of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that VNET Group will post -0.06 EPS for the current fiscal year.

VNET Group declared that its board has approved a stock buyback program on Friday, June 27th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

About VNET Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.