VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Receives $17.40 Average Target Price from Analysts

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $17.3975.

VNET has been the subject of several analyst reports. Wall Street Zen lowered VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft initiated coverage on VNET Group in a research report on Tuesday, July 7th. They issued a “buy” rating and a $12.50 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $24.79 price target on shares of VNET Group in a research note on Tuesday, May 26th. Morgan Stanley reiterated an “overweight” rating and set a $16.00 price target on shares of VNET Group in a report on Wednesday, May 27th. Finally, Zacks Research raised VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th.

Insiders Place Their Bets

In other VNET Group news, Director Sean Shao sold 60,000 shares of VNET Group stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.71, for a total transaction of $102,600.00. Following the completion of the sale, the director directly owned 983,820 shares in the company, valued at $1,682,332.20. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On VNET Group

A number of hedge funds have recently made changes to their positions in the stock. Leonteq Securities AG acquired a new stake in VNET Group in the 1st quarter valued at approximately $25,000. Global Retirement Partners LLC purchased a new position in shares of VNET Group during the fourth quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position in shares of VNET Group by 52.2% during the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after buying an additional 1,426 shares during the period. Parallel Advisors LLC grew its stake in shares of VNET Group by 26.8% in the first quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 1,160 shares in the last quarter. Finally, Allianz SE acquired a new stake in shares of VNET Group in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Price Performance

Shares of VNET stock opened at $7.71 on Wednesday. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50-day moving average is $8.95 and its two-hundred day moving average is $9.65. VNET Group has a 12 month low of $7.10 and a 12 month high of $14.48. The company has a market capitalization of $2.09 billion, a PE ratio of -5.63 and a beta of 0.28.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($1.17). The firm had revenue of $390.32 million during the quarter, compared to analysts’ expectations of $388.47 million. VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. Analysts predict that VNET Group will post -0.24 earnings per share for the current year.

About VNET Group

VNET Group, Inc (NASDAQ: VNET) is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company’s product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.