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

Shares of VNET Group, Inc. (NASDAQ:VNET) have received a consensus rating of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $9.30.

VNET has been the subject of several research reports. Citigroup boosted their price objective on shares of VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 14th. StockNews.com cut VNET Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Finally, Nomura Securities upgraded VNET Group to a “strong-buy” rating in a report on Friday, February 21st.

Hedge Funds Weigh In On VNET Group

A number of large investors have recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 4,939 shares during the period. Headlands Technologies LLC grew its stake in VNET Group by 5.7% in the fourth quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock valued at $685,000 after purchasing an additional 7,737 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in VNET Group in the fourth quarter worth about $41,000. Catalina Capital Group LLC purchased a new stake in shares of VNET Group during the fourth quarter valued at about $54,000. Finally, Wolverine Trading LLC purchased a new stake in shares of VNET Group during the third quarter valued at about $46,000. Institutional investors own 72.83% of the company’s stock.

VNET Group Trading Up 0.8 %

Shares of NASDAQ VNET opened at $6.44 on Thursday. VNET Group has a fifty-two week low of $1.42 and a fifty-two week high of $16.13. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -2.90, a PEG ratio of 1.01 and a beta of 0.15. The business’s 50 day moving average price is $10.11 and its 200-day moving average price is $6.27.

VNET Group (NASDAQ:VNET) last released its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $307.75 million during the quarter, compared to analysts’ expectations of $284.88 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. On average, sell-side analysts expect that VNET Group will post -0.06 earnings per share for the current year.

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.