VNET Group (NASDAQ:VNET - Get Free Report) released its quarterly earnings data on Wednesday. The information technology services provider reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11), Zacks reports. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. 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 previous year, the firm posted ($0.28) earnings per share.
VNET Group Price Performance
Shares of NASDAQ:VNET traded up $0.18 during midday trading on Monday, reaching $5.52. The company's stock had a trading volume of 1,113,390 shares, compared to its average volume of 4,606,477. VNET Group has a fifty-two week low of $1.71 and a fifty-two week high of $16.13. The company has a market capitalization of $1.48 billion, a P/E ratio of -2.48, a P/E/G ratio of 1.01 and a beta of 0.14. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The business's fifty day simple moving average is $6.22 and its 200-day simple moving average is $6.88.
Wall Street Analysts Forecast Growth
Several research firms recently commented on VNET. Wall Street Zen downgraded VNET Group from a "hold" rating to a "sell" rating in a research report on Tuesday, May 6th. Citigroup increased their target price on shares of VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, VNET Group presently has a consensus rating of "Buy" and a consensus price target of $9.30.
Read Our Latest Analysis on VNET
About VNET Group
(
Get Free Report)
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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