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VNET Group (NASDAQ:VNET) Upgraded by Wall Street Zen to Hold Rating

VNET Group logo with Computer and Technology background

Key Points

  • VNET Group was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more neutral outlook for the company.
  • Bank of America raised its price target for VNET Group from $11.80 to $12.60, while the stock currently has a consensus rating of "Buy" and an average target price of $9.96.
  • VNET reported a loss of ($0.01) earnings per share for the last quarter, missing estimates, and it has guidance of -0.06 EPS for the current year.
  • MarketBeat previews the top five stocks to own by November 1st.

VNET Group (NASDAQ:VNET - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Friday.

Other equities analysts also recently issued research reports about the company. Bank of America upped their price target on VNET Group from $11.80 to $12.60 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Weiss Ratings restated a "sell (d+)" rating on shares of VNET Group in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, VNET Group currently has a consensus rating of "Buy" and an average target price of $9.96.

Get Our Latest Research Report on VNET

VNET Group Stock Down 5.9%

Shares of NASDAQ:VNET traded down $0.66 during midday trading on Friday, reaching $10.58. 4,842,298 shares of the company were exchanged, compared to its average volume of 8,814,376. The firm has a market cap of $2.85 billion, a PE ratio of -132.25, a P/E/G ratio of 6.48 and a beta of 0.20. VNET Group has a fifty-two week low of $3.17 and a fifty-two week high of $16.13. The stock has a fifty day simple moving average of $8.72 and a two-hundred day simple moving average of $7.36. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.40.

VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). The firm had revenue of $339.65 million for the quarter, compared to the consensus estimate 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. As a group, sell-side analysts forecast that VNET Group will post -0.06 earnings per share for the current year.

VNET Group declared that its Board of Directors has authorized a share repurchase program on Friday, June 27th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new position in shares of VNET Group in the fourth quarter valued at about $132,000. Oppenheimer & Co. Inc. acquired a new position in VNET Group in the 1st quarter valued at about $207,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in VNET Group by 111.0% in the 1st 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 acquiring an additional 42,710 shares during the period. Shilanski & Associates Inc. bought a new position in VNET Group in the 1st quarter valued at about $274,000. Finally, GF Fund Management CO. LTD. acquired a new stake in VNET Group during the first quarter worth approximately $4,654,000. 72.83% of the stock is owned by institutional investors and hedge funds.

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.

See Also

Analyst Recommendations for VNET Group (NASDAQ:VNET)

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