Analysts Set VNET Group, Inc. (NASDAQ:VNET) PT at $9.30

VNET Group, Inc. (NASDAQ:VNET) has earned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $9.30.

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Nomura Securities upgraded VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Citigroup boosted their price target on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 14th.

VNET Group Stock Performance

Shares of VNET opened at $6.44 on Thursday. 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 firm has a market cap of $1.66 billion, a PE ratio of -2.90, a P/E/G ratio of 1.01 and a beta of 0.15. VNET Group has a 12 month low of $1.42 and a 12 month high of $16.13. The stock has a fifty day moving average price of $10.11 and a 200-day moving average price of $6.27.

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

Hedge Funds Weigh In On VNET Group

Several institutional investors and hedge funds have recently modified their holdings of VNET. Geode Capital Management LLC raised its position in VNET Group by 237.7% during the third quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock valued at $1,218,000 after acquiring an additional 210,124 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of VNET Group during the 4th quarter worth approximately $152,000. JPMorgan Chase & Co. increased its holdings in shares of VNET Group by 136,783.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock valued at $558,000 after purchasing an additional 136,783 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of VNET Group in the 3rd quarter valued at $519,000. Finally, Los Angeles Capital Management LLC purchased a new stake in VNET Group during the fourth quarter worth $294,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

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.