VNET Group (NASDAQ:VNET) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of VNET Group (NASDAQ:VNET) from a sell rating to a hold rating in a research note released on Sunday.

A number of other brokerages also recently weighed in on VNET. Citigroup raised their target price on shares of VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Nomura Securities raised shares of VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $9.30.

VNET Group Price Performance

VNET stock opened at $5.55 on Friday. 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 $1.49 billion, a P/E ratio of -555.00, a PEG ratio of 1.26 and a beta of 0.09. The firm has a 50-day moving average of $5.85 and a 200 day moving average of $7.03. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.10 and a quick ratio of 1.10.

VNET Group (NASDAQ:VNET) last announced its earnings results on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). VNET Group had a net margin of 1.66% and a return on equity of 2.11%. The business had revenue of $309.52 million for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the business posted ($0.28) EPS. On average, sell-side analysts forecast that VNET Group will post -0.06 EPS for the current year.

Institutional Investors Weigh In On VNET Group

Several institutional investors and hedge funds have recently made changes to their positions in VNET. Asset Management One Co. Ltd. bought a new stake in shares of VNET Group during the fourth quarter valued at approximately $152,000. Los Angeles Capital Management LLC bought a new stake in shares of VNET Group during the fourth quarter valued at approximately $294,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of VNET Group by 472.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 278,801 shares of the information technology services provider’s stock valued at $1,322,000 after acquiring an additional 230,068 shares in the last quarter. American Century Companies Inc. increased its position in shares of VNET Group by 20.4% during the fourth quarter. American Century Companies Inc. now owns 474,929 shares of the information technology services provider’s stock valued at $2,251,000 after acquiring an additional 80,516 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of VNET Group by 622.8% during the fourth quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock valued at $4,690,000 after acquiring an additional 852,519 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.

VNET Group Company Profile

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.