21Vianet Given New $15.00 Price Target at Piper Jaffray (VNET)
“21Vianet reported fourth quarter 2012 results March 5 after the market close. … We are slightly increasing our 2013 revenue estimate (+7M) due primarily to the higher hosting revenues per cabinet reported in the fourth quarter. We are, however, lowering our EBITDA forecast to $403.6M from $424.7M due to the weaker margins reported in the fourth quarter as well as the weaker EBITDA guidance for the first quarter than expected. Our 2013 EPS estimate moves to ¥0.57 from ¥0.68.,” the firm’s analyst wrote.
A number of other firms have also recently commented on VNET. Analysts at JPMorgan Chase downgraded shares of 21Vianet from an overweight rating to a neutral rating in a research note to investors on Thursday. They now have a $11.00 price target on the stock, down previously from $16.00. Analysts at TheStreet upgraded shares of 21Vianet from a sell rating to a hold rating in a research note to investors on Friday, February 8th.
21Vianet traded down 3.01% on Thursday, hitting $9.35. 21Vianet has a 52-week low of $8.39 and a 52-week high of $13.63. The stock’s 50-day moving average is currently $9.86. The company has a market cap of $540.7 million and a price-to-earnings ratio of 63.01.
21Vianet Group, Inc., formerly AsiaCloud Inc., is a holding company. The Company is a carrier-neutral Internet data center services provider in the People’s Republic of China.
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