21Vianet Group Inc. (VNET) Shares Up 1.4%
Shares of 21Vianet Group Inc. (NASDAQ:VNET) shot up 1.4% during mid-day trading on Wednesday . The company traded as high as $9.32 and last traded at $9.29, with a volume of 684,711 shares. The stock had previously closed at $9.16.
A number of research firms recently issued reports on VNET. Zacks Investment Research raised shares of 21Vianet Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Morgan Stanley began coverage on shares of 21Vianet Group in a research report on Friday, July 8th. They set an “underweight” rating and a $8.00 target price for the company. Finally, JPMorgan Chase & Co. downgraded shares of 21Vianet Group from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $21.00 to $5.60 in a research report on Wednesday, August 17th.
The firm has a 50-day moving average price of $9.56 and a 200-day moving average price of $14.74. The company’s market capitalization is $1.06 billion.
21Vianet Group (NASDAQ:VNET) last issued its quarterly earnings data 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. During the same quarter last year, the firm earned ($0.02) earnings per share. The company earned $137.10 million during the quarter, compared to analyst estimates of $127.83 million. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities analysts forecast that 21Vianet Group Inc. will post ($0.59) earnings per share for the current year.
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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