21Vianet Group, Inc. (VNET) has been initiated today with coverage from the research analysts at Barclays Capital. Barclays begins this new coverage of VNET with an initial price target set at $15 dollars and has a “equal weight” performance outlook for VNET.
21Vianet conducts business in the Information Technology sector, notably the Internet Software & Services industry. VNET is currently trading above its 10-day moving average and 2011 is currently an a down year for the company. The company has market capitalization of $136,000,000 and 11,500,000 shares outstanding. VNET has a 52-week high of $22.33 with the low being $11.25 dollars.
21Vianet Group, Inc. provides network interconnectivity, hosting, and routing services throughout China using carrier-neutral technology. It runs nearly 40,000 servers at some 47 data centers in more than 30 cities. 21 Vianet also provides Internet security and managed network services via its proprietary BroadEx routing software. The company partners with China’s major telecom operators China Telecom and China Unicom for hosting facilities and bandwidth. Among its 1,300 customers are social media, search engine, e-commerce, online gaming, and mobile Internet firms, including Tencent and Newegg, and government entities. Formed in 1999, 21 Vianet went public in 2011.