VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Stock Has Average Price Target of $16.90 According to Analysts

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 presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $16.90.

A number of research firms have recently issued reports on VNET. Wall Street Zen downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Morgan Stanley restated an “overweight” rating and set a $14.00 price target on shares of VNET Group in a research report on Wednesday, August 19th. Weiss Ratings cut VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of VNET Group in a report on Tuesday, July 7th. They issued a “buy” rating and a $12.50 target price on the stock.

Get Our Latest Report on VNET Group

Hedge Funds Weigh In On VNET Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC increased its stake in VNET Group by 255.2% in the second quarter. Tidal Investments LLC now owns 332,025 shares of the information technology services provider’s stock valued at $2,669,000 after purchasing an additional 238,541 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of VNET Group during the 2nd quarter worth approximately $474,000. Squarepoint Ops LLC boosted its holdings in shares of VNET Group by 4.8% in the 2nd quarter. Squarepoint Ops LLC now owns 71,893 shares of the information technology services provider’s stock valued at $578,000 after buying an additional 3,312 shares in the last quarter. Carmignac Gestion boosted its holdings in shares of VNET Group by 1,375.1% in the 2nd quarter. Carmignac Gestion now owns 4,760,599 shares of the information technology services provider’s stock valued at $38,123,000 after buying an additional 4,437,879 shares in the last quarter. Finally, Nykredit A S purchased a new position in shares of VNET Group in the 2nd quarter valued at $89,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Price Performance

NASDAQ:VNET opened at $5.13 on Monday. The stock’s fifty day moving average is $6.65 and its two-hundred day moving average is $8.07. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 4.35. The company has a market capitalization of $1.39 billion, a P/E ratio of -3.61 and a beta of 0.23. VNET Group has a 52 week low of $5.10 and a 52 week high of $14.48.

VNET Group (NASDAQ:VNET – Get Free Report) last posted its earnings results on Wednesday, August 19th. The information technology services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The company had revenue of $409.00 million during the quarter, compared to analyst estimates of $401.77 million. VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. Equities analysts expect that VNET Group will post -0.48 EPS for the current year.

About VNET Group

(Get Free Report)

VNET Group, Inc (NASDAQ:VNET) is a carrier- and cloud-neutral data center services provider in China. The company develops and operates internet data centers that support the hosting, connectivity, and technology infrastructure needs of businesses, government organizations, cloud service providers, and internet companies.

Its services include data center colocation, cloud computing, managed network services, and other information technology infrastructure solutions. VNET’s facilities are designed to provide customers with secure space, power, connectivity, and related operational support for servers and other mission-critical systems.

Further Reading

Analyst Recommendations for VNET Group (NASDAQ:VNET)

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