21Vianet Group Inc. (VNET) Shares Up 3.5%
21Vianet Group Inc. (NASDAQ:VNET) shot up 3.5% on Tuesday . The stock traded as high as $8.93 and last traded at $8.89, with a volume of 879,094 shares traded. The stock had previously closed at $8.59.
VNET has been the subject of several recent analyst reports. Zacks Investment Research lowered 21Vianet Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. JPMorgan Chase & Co. lowered 21Vianet Group from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $21.00 to $5.60 in a research report on Wednesday, August 17th. Finally, Morgan Stanley initiated coverage on 21Vianet Group in a research report on Friday, July 8th. They set an “underweight” rating and a $8.00 target price for the company. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $11.87.
The stock’s market capitalization is $1.01 billion. The stock’s 50 day moving average price is $9.66 and its 200 day moving average price is $15.05.
21Vianet Group (NASDAQ:VNET) last issued its quarterly earnings results on Tuesday, August 16th. The company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.08. The company had revenue of $137.10 million for the quarter, compared to analysts’ expectations of $127.83 million. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) earnings per share. Equities research analysts expect that 21Vianet Group Inc. will post ($0.59) EPS for the current fiscal year.
An institutional investor recently raised its position in 21Vianet Group stock. Morgan Stanley increased its position in shares of 21Vianet Group Inc. (NASDAQ:VNET) by 180.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,100,561 shares of the company’s stock after buying an additional 708,308 shares during the period. Morgan Stanley owned 1.26% of 21Vianet Group worth $23,265,000 as of its most recent filing with the SEC.
21Vianet Group, Inc is a carrier-neutral Internet data center services provider. The Company hosts its customers’ servers and networking equipment and provides interconnectivity. The Company also provides managed network services to enable customers to deliver data across the Internet through its data transmission network and smart routing technology.
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