21Vianet Group (NASDAQ:VNET) Stock Rating Upgraded by Zacks Investment Research

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21Vianet Group (NASDAQ:VNET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “21Vianet Group, Inc. operates as a carrier-neutral Internet data center services provider in China. It provides hosting and related services, managed network services and cloud computing infrastructure. The Company’s infrastructure is interconnected with the networks operated by all of China’s telecommunications carriers, major non-carriers and local Internet service providers, or ISPs. 21Vianet Group, Incorporation. Its customers include Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises. 21Vianet Group, Inc. is headquartered in Beijing, the Peoples’ Republic of China. “

VNET has been the subject of a number of other research reports. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $11.00.

VNET opened at $7.14 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.97 and a current ratio of 1.97. 21Vianet Group has a 12 month low of $6.60 and a 12 month high of $11.98. The company has a fifty day moving average price of $7.51. The company has a market cap of $796.59 million, a PE ratio of -29.75 and a beta of 1.18.

21Vianet Group (NASDAQ:VNET) last released its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.02). 21Vianet Group had a negative net margin of 6.69% and a negative return on equity of 1.72%. The firm had revenue of $129.91 million during the quarter, compared to the consensus estimate of $129.55 million. On average, research analysts predict that 21Vianet Group will post -0.09 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. FIL Ltd increased its holdings in 21Vianet Group by 17.3% during the 1st quarter. FIL Ltd now owns 6,336,126 shares of the information technology services provider’s stock worth $50,309,000 after purchasing an additional 932,763 shares in the last quarter. Dalton Investments LLC increased its holdings in 21Vianet Group by 62.6% during the 1st quarter. Dalton Investments LLC now owns 1,420,460 shares of the information technology services provider’s stock worth $11,278,000 after purchasing an additional 547,060 shares in the last quarter. BlackRock Inc. increased its holdings in 21Vianet Group by 0.6% during the 4th quarter. BlackRock Inc. now owns 1,419,068 shares of the information technology services provider’s stock worth $12,261,000 after purchasing an additional 7,768 shares in the last quarter. Norges Bank bought a new position in 21Vianet Group during the 4th quarter worth about $10,872,000. Finally, Krane Funds Advisors LLC increased its holdings in 21Vianet Group by 5.8% during the 1st quarter. Krane Funds Advisors LLC now owns 939,814 shares of the information technology services provider’s stock worth $7,462,000 after purchasing an additional 51,350 shares in the last quarter. Hedge funds and other institutional investors own 37.93% of the company’s stock.

21Vianet Group Company Profile

21Vianet Group, Inc provides carrier and cloud-neutral Internet data center services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. It offers hosting and related services to house servers and networking equipment in its data centers, and connects them through a data transmission network.

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