VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) has been assigned a consensus rating of "Buy" from the six research firms that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to 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.
Several research firms recently weighed in on VNET. Citigroup boosted their target price on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Wall Street Zen cut VNET Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th.
View Our Latest Report on VNET Group
VNET Group Stock Up 14.1%
Shares of VNET Group stock traded up $0.98 on Friday, reaching $7.95. 13,390,867 shares of the company were exchanged, compared to its average volume of 5,160,931. VNET Group has a 1-year low of $1.71 and a 1-year high of $16.13. The company has a market cap of $2.14 billion, a P/E ratio of -795.00, a price-to-earnings-growth ratio of 1.31 and a beta of 0.14. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.10 and a quick ratio of 1.10. The stock's 50 day moving average price is $6.26 and its 200-day moving average price is $7.35.
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) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). VNET Group had a return on equity of 2.11% and a net margin of 1.66%. The company had revenue of $309.52 million for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the firm posted ($0.28) earnings per share. As a group, equities analysts forecast that VNET Group will post -0.06 EPS for the current year.
VNET Group announced that its Board of Directors has authorized a share buyback plan on Friday, June 27th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the information technology services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.
Institutional Investors Weigh In On VNET Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in 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 last quarter. Farther Finance Advisors LLC acquired a new position in shares of VNET Group in the second quarter valued at approximately $34,000. Quantbot Technologies LP acquired a new position in shares of VNET Group in the first quarter valued at approximately $36,000. Summit Securities Group LLC acquired a new position in shares of VNET Group in the first quarter valued at approximately $40,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of VNET Group in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 72.83% of the company's stock.
About VNET Group
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Get Free ReportVNET 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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