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

Key Points

• VNET Group, Inc. has received a "Moderate Buy" consensus recommendation from analysts, with a 12-month price target of $11.15.
• Institutional investors have increased their stakes in VNET Group, with hedge funds owning 72.83% of the stock.
• The company reported a quarterly loss of ($0.01) EPS, missing estimates, with a revenue of $339.65 million.

Shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) have received an average recommendation of "Moderate Buy" from the six analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $11.15.

A number of equities analysts recently weighed in on VNET shares. Wall Street Zen raised VNET Group from a "sell" rating to a "hold" rating in a report on Friday, October 3rd. Bank of America raised their price objective on VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a report on Friday, August 22nd. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of VNET Group in a report on Wednesday, October 8th.

Hedge Funds Weigh In On VNET Group

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in VNET Group by 111.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,197 shares of the information technology services provider's stock valued at $670,000 after buying an additional 42,710 shares during the period. Amundi purchased a new stake in VNET Group during the first quarter valued at about $5,093,000. Oppenheimer & Co. Inc. purchased a new stake in VNET Group during the first quarter valued at about $207,000. Farther Finance Advisors LLC purchased a new stake in VNET Group during the second quarter valued at about $34,000. Finally, Public Employees Retirement System of Ohio boosted its position in VNET Group by 16.8% during the second quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider's stock valued at $101,000 after buying an additional 2,100 shares during the period. 72.83% of the stock is owned by hedge funds and other institutional investors.

VNET Group Trading Down 3.0%

Shares of VNET stock opened at $8.76 on Monday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.97 and a current ratio of 0.97. VNET Group has a 52-week low of $3.25 and a 52-week high of $16.13. The company has a market capitalization of $2.36 billion, a PE ratio of -109.50, a price-to-earnings-growth ratio of 5.05 and a beta of 0.20. The business's fifty day moving average is $9.01 and its 200 day moving average is $7.40.

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

VNET Group declared that its Board of Directors has authorized a share buyback plan on Friday, June 27th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the information technology services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company's management 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.

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