VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Stock Has Average Price Target of $16.90 According to Analysts

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $16.90.

Several research analysts have commented on VNET shares. Wall Street Zen downgraded VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings downgraded shares of VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $14.00 price target on shares of VNET Group in a report on Wednesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of VNET Group in a research report on Tuesday, July 7th. They set a “buy” rating and a $12.50 price objective for the company.

VNET Group Stock Performance

Shares of VNET stock opened at $5.13 on Monday. VNET Group has a fifty-two week low of $5.10 and a fifty-two week high of $14.48. The stock’s fifty day moving average price is $6.65 and its two-hundred day moving average price is $8.06. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $1.39 billion, a PE ratio of -3.61 and a beta of 0.23.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The business had revenue of $409.00 million for the quarter, compared to the consensus estimate of $401.77 million. VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. Equities analysts predict that VNET Group will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On VNET Group

Several hedge funds have recently modified their holdings of VNET. Leonteq Securities AG acquired a new position in VNET Group in the 1st quarter worth about $25,000. Parallel Advisors LLC boosted its stake in shares of VNET Group by 26.8% during the first quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 1,160 shares in the last quarter. Nykredit A S bought a new stake in shares of VNET Group during the second quarter worth about $89,000. Lido Advisors LLC bought a new stake in shares of VNET Group during the first quarter worth about $126,000. Finally, Blue Trust Inc. increased its stake in shares of VNET Group by 38.4% in the first quarter. Blue Trust Inc. now owns 17,791 shares of the information technology services provider’s stock valued at $149,000 after buying an additional 4,932 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.

About VNET Group

VNET Group, Inc (NASDAQ:VNET) is a carrier- and cloud-neutral data center services provider in China. The company develops and operates internet data centers that support the hosting, connectivity, and technology infrastructure needs of businesses, government organizations, cloud service providers, and internet companies.

Its services include data center colocation, cloud computing, managed network services, and other information technology infrastructure solutions. VNET’s facilities are designed to provide customers with secure space, power, connectivity, and related operational support for servers and other mission-critical systems.