SunTrust Banks assumed coverage on shares of GDS (NASDAQ:GDS) in a research note released on Tuesday morning, The Fly reports. The brokerage issued a buy rating on the stock.

GDS has been the subject of a number of other reports. Credit Suisse Group upgraded GDS from an underperform rating to a neutral rating in a research note on Wednesday, May 23rd. BidaskClub downgraded GDS from a strong-buy rating to a buy rating in a research note on Friday, June 1st. Guggenheim began coverage on GDS in a research note on Thursday, June 14th. They set a buy rating and a $50.00 price objective for the company. Zacks Investment Research downgraded GDS from a hold rating to a sell rating in a research note on Monday, July 2nd. Finally, Raymond James began coverage on GDS in a research note on Thursday, July 12th. They set a strong-buy rating and a $53.00 price objective for the company. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. GDS currently has an average rating of Buy and an average target price of $40.59.

GDS stock opened at $33.65 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.78. The company has a market cap of $4.08 billion, a P/E ratio of -65.98 and a beta of 2.37. GDS has a 12-month low of $10.75 and a 12-month high of $46.18.

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of GDS by 198.4% in the first quarter. Royal Bank of Canada now owns 33,388 shares of the company’s stock worth $916,000 after purchasing an additional 22,200 shares in the last quarter. Russell Investments Group Ltd. bought a new position in GDS during the first quarter valued at about $671,000. Wells Fargo & Company MN boosted its stake in GDS by 309.0% during the first quarter. Wells Fargo & Company MN now owns 33,193 shares of the company’s stock valued at $911,000 after buying an additional 25,078 shares in the last quarter. Singapore Technologies Telemedia Pte Ltd boosted its stake in GDS by 119.1% during the first quarter. Singapore Technologies Telemedia Pte Ltd now owns 5,537,821 shares of the company’s stock valued at $152,013,000 after buying an additional 3,009,857 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in GDS by 29.3% during the second quarter. Janney Montgomery Scott LLC now owns 63,396 shares of the company’s stock valued at $2,542,000 after buying an additional 14,384 shares in the last quarter. 39.28% of the stock is owned by institutional investors.

GDS Company Profile

GDS Holdings Limited, together with its subsidiaries, designs, builds, and operates data centers in the People's Republic of China. The company provides colocation, managed hosting, and managed cloud services. Its data centers service customers that primarily operate in the Internet and banking industries in Shanghai, Beijing, Shenzhen, Guangzhou, and Chengdu.

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Analyst Recommendations for GDS (NASDAQ:GDS)

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