VNET Group (NASDAQ:VNET) Upgraded by Wall Street Zen to “Hold” Rating

VNET Group (NASDAQ:VNET) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

A number of other equities analysts have also weighed in on the company. Citigroup boosted their target price on VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Nomura Securities raised VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. One research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $9.30.

VNET Group Stock Performance

Shares of VNET stock opened at $5.68 on Friday. VNET Group has a 12 month low of $1.71 and a 12 month high of $16.13. The stock has a market cap of $1.53 billion, a PE ratio of -2.56, a price-to-earnings-growth ratio of 1.01 and a beta of 0.09. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. The company’s fifty day moving average price is $5.85 and its 200-day moving average price is $7.04.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $309.52 million during the quarter, compared to analysts’ expectations of $2.22 billion. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. During the same period in the prior year, the firm earned ($0.28) EPS. On average, equities analysts expect that VNET Group will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On VNET Group

Large investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of VNET Group during the 1st quarter valued at about $36,000. Summit Securities Group LLC bought a new position in shares of VNET Group during the 1st quarter valued at approximately $40,000. Barclays PLC grew its stake in shares of VNET Group by 229.3% during 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. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of VNET Group during the 4th quarter valued at approximately $41,000. Finally, Liontrust Investment Partners LLP bought a new position in shares of VNET Group during the 1st quarter valued at approximately $78,000. 72.83% of the stock is currently owned by institutional investors.

About VNET Group

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.