Brokerages Anticipate VNET Group, Inc. (NASDAQ:VNET) Will Post Quarterly Sales of $265.15 Million

Equities analysts forecast that VNET Group, Inc. (NASDAQ:VNETGet Rating) will post $265.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for VNET Group’s earnings, with the highest sales estimate coming in at $283.51 million and the lowest estimate coming in at $246.79 million. VNET Group posted sales of $231.85 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.4%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that VNET Group will report full year sales of $1.13 billion for the current fiscal year, with estimates ranging from $1.02 billion to $1.20 billion. For the next year, analysts expect that the company will report sales of $1.33 billion, with estimates ranging from $1.19 billion to $1.46 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow VNET Group.

VNET Group (NASDAQ:VNETGet Rating) last issued its quarterly earnings results on Wednesday, March 30th. The information technology services provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.18). VNET Group had a return on equity of 6.53% and a net margin of 8.09%. The company had revenue of $273.90 million for the quarter, compared to analysts’ expectations of $275.94 million.

Several research analysts have commented on the stock. The Goldman Sachs Group raised shares of VNET Group from a “sell” rating to a “neutral” rating and set a $6.50 price target for the company in a report on Wednesday. Credit Suisse Group decreased their target price on shares of VNET Group from $10.80 to $8.20 and set an “outperform” rating on the stock in a research report on Monday, May 16th. Zacks Investment Research upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th. StockNews.com began coverage on shares of VNET Group in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, HSBC decreased their target price on shares of VNET Group from $13.50 to $9.40 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, VNET Group currently has an average rating of “Hold” and an average price target of $15.68.

VNET opened at $4.70 on Thursday. The company has a 50 day moving average of $6.18 and a 200 day moving average of $8.19. The company has a market cap of $684.66 million, a PE ratio of -14.24 and a beta of 0.14. VNET Group has a 12 month low of $3.51 and a 12 month high of $26.20. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.00.

Several hedge funds have recently added to or reduced their stakes in the business. River & Mercantile Asset Management LLP boosted its stake in shares of VNET Group by 64.1% during the 1st quarter. River & Mercantile Asset Management LLP now owns 154,889 shares of the information technology services provider’s stock valued at $904,000 after purchasing an additional 60,500 shares in the last quarter. Invesco Ltd. boosted its stake in shares of VNET Group by 41.9% during the 1st quarter. Invesco Ltd. now owns 164,958 shares of the information technology services provider’s stock valued at $962,000 after purchasing an additional 48,710 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of VNET Group by 1,424.1% during the 1st quarter. Hsbc Holdings PLC now owns 986,362 shares of the information technology services provider’s stock valued at $5,751,000 after purchasing an additional 921,643 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of VNET Group by 133.1% during the 1st quarter. Renaissance Technologies LLC now owns 759,967 shares of the information technology services provider’s stock valued at $4,431,000 after purchasing an additional 433,900 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of VNET Group during the 1st quarter valued at about $1,224,000.

About VNET Group (Get Rating)

VNET Group, Inc, an investment holding company, provides hosting and related services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. It offers hosting and related services to house servers and networking equipment in its data centers, and connects them through a data transmission network.

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