VNET Group, Inc. (NASDAQ:VNET) Receives Average Rating of “Buy” from Analysts

Shares of VNET Group, Inc. (NASDAQ:VNETGet Rating) have received a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $16.82.

Several equities analysts have commented on the stock. Credit Suisse Group lowered 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. The Goldman Sachs Group raised shares of VNET Group from a “sell” rating to a “neutral” rating and set a $6.50 target price on the stock in a research report on Wednesday, May 25th. StockNews.com assumed coverage on shares of VNET Group in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, HSBC lowered their target price on shares of VNET Group from $13.50 to $9.40 in a research report on Wednesday, May 25th.

A number of hedge funds have recently added to or reduced their stakes in VNET. Exchange Traded Concepts LLC boosted its holdings in VNET Group by 440.7% during the first quarter. Exchange Traded Concepts LLC now owns 4,282 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 3,490 shares during the period. Parallel Advisors LLC lifted its stake in shares of VNET Group by 111.9% in the fourth quarter. Parallel Advisors LLC now owns 3,064 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 1,618 shares during the period. Signaturefd LLC lifted its stake in shares of VNET Group by 447.3% in the fourth quarter. Signaturefd LLC now owns 4,625 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 3,780 shares during the period. Advisors Asset Management Inc. bought a new stake in shares of VNET Group in the fourth quarter valued at about $64,000. Finally, Acadian Asset Management LLC bought a new stake in shares of VNET Group in the first quarter valued at about $88,000.

NASDAQ VNET opened at $5.66 on Tuesday. VNET Group has a 1-year low of $3.51 and a 1-year high of $26.20. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $824.50 million, a PE ratio of -31.44 and a beta of 0.15. The firm’s fifty day simple moving average is $5.82 and its 200-day simple moving average is $7.11.

VNET Group (NASDAQ:VNETGet Rating) last posted its quarterly earnings results on Wednesday, March 30th. The information technology services provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.18). VNET Group had a return on equity of 8.95% and a net margin of 10.41%. The company had revenue of $273.90 million during the quarter, compared to analyst estimates of $275.94 million. As a group, analysts predict that VNET Group will post -1.33 EPS for the current year.

VNET Group Company Profile (Get Rating)

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; server administration services; 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; VPN Services that extend customers' private networks by setting up connections through the public internet.

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