21Vianet Group Inc. (VNET) Shares Up 4.8%
21Vianet Group Inc. (NASDAQ:VNET)’s share price shot up 4.8% during trading on Monday . The company traded as high as $10.13 and last traded at $10.07, with a volume of 489,823 shares. The stock had previously closed at $9.61.
A number of brokerages have recently commented on VNET. Zacks Investment Research upgraded shares of 21Vianet Group from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Morgan Stanley began coverage on shares of 21Vianet Group in a report on Friday, July 8th. They set an “underweight” rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $17.00.
The firm has a 50-day moving average price of $9.98 and a 200 day moving average price of $15.94. The stock’s market capitalization is $878.03 million.
21Vianet Group (NASDAQ:VNET) last announced its quarterly earnings data on Thursday, May 26th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.06. During the same period last year, the business earned $0.02 earnings per share. The business earned $133.70 million during the quarter. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts expect that 21Vianet Group Inc. will post ($0.35) EPS for the current fiscal year.
An institutional investor recently raised its position in 21Vianet Group stock. Morgan Stanley raised its position in shares of 21Vianet Group Inc. (NASDAQ:VNET) by 180.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,100,561 shares of the company’s stock after buying an additional 708,308 shares during the period. Morgan Stanley owned approximately 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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