VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• VNET Group has a consensus analyst rating of “Moderate Buy” from six brokerages, with an average 12-month price target of about $17.40.
• Recent analyst actions were mixed: Wall Street Zen downgraded the stock to sell, while Morgan Stanley, Bank of America, and Jefferies either reiterated or assigned buy/overweight ratings.
• The company’s latest quarterly results were weak, as VNET reported EPS of -$1.20, far below expectations, even though revenue of $390.3 million slightly topped estimates.

Shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $17.3975.

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of VNET Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Zacks Research raised VNET Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 27th. Morgan Stanley reiterated an "overweight" rating and set a $16.00 price objective on shares of VNET Group in a report on Wednesday, May 27th. Bank of America set a $16.30 target price on shares of VNET Group and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $24.79 price objective on shares of VNET Group in a report on Tuesday, May 26th.

VNET Group Price Performance

Shares of NASDAQ VNET opened at $7.75 on Wednesday. VNET Group has a fifty-two week low of $7.17 and a fifty-two week high of $14.48. The stock has a market cap of $2.10 billion, a P/E ratio of -5.66 and a beta of 0.28. The firm's 50-day simple moving average is $9.08 and its 200 day simple moving average is $9.68. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99.

VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($1.17). The company had revenue of $390.32 million during the quarter, compared to analyst estimates of $388.47 million. VNET Group had a negative return on equity of 31.59% and a negative net margin of 22.01%. Equities analysts expect that VNET Group will post -0.24 EPS for the current year.

Insiders Place Their Bets

In other VNET Group news, Director Sean Shao sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.71, for a total value of $102,600.00. Following the sale, the director owned 983,820 shares of the company's stock, valued at $1,682,332.20. This trade represents a 5.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Leonteq Securities AG acquired a new position in VNET Group in the first quarter valued at approximately $25,000. Global Retirement Partners LLC bought a new stake in shares of VNET Group in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC boosted its stake in shares of VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider's stock worth $29,000 after buying an additional 1,426 shares during the last quarter. Parallel Advisors LLC boosted its position in VNET Group by 26.8% during the first quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider's stock valued at $46,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Allianz SE bought a new position in shares of VNET Group in the fourth quarter valued at $50,000. 72.83% of the stock is owned by institutional investors and hedge funds.

About VNET Group

VNET Group, Inc NASDAQ: VNET is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company's product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.