VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Stock Has Consensus Target Price of $16.90

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $16.90.

Several research firms have issued reports on VNET. Weiss Ratings downgraded VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft assumed coverage on VNET Group in a research note on Tuesday, July 7th. They set a “buy” rating and a $12.50 target price for the company. Finally, Morgan Stanley reissued an “overweight” rating and set a $14.00 price target on shares of VNET Group in a research report on Wednesday, August 19th.

VNET Group Stock Performance

NASDAQ:VNET opened at $3.37 on Friday. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50-day moving average of $5.63 and a two-hundred day moving average of $8.40. The stock has a market cap of $911.55 million, a P/E ratio of -2.37 and a beta of 0.23. VNET Group has a 1-year low of $3.32 and a 1-year high of $14.48.

VNET Group (NASDAQ:VNET) last announced its earnings results on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The business had revenue of $409.00 million for the quarter, compared to analyst estimates of $401.77 million. VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. On average, research analysts expect that VNET Group will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On VNET Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in VNET Group in the third quarter valued at about $85,000. Asset Management One Co. Ltd. raised its stake in VNET Group by 26.7% during the third quarter. Asset Management One Co. Ltd. now owns 36,829 shares of the information technology services provider’s stock valued at $204,000 after buying an additional 7,752 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in VNET Group during the third quarter valued at approximately $62,000. Fifth Third Wealth Advisors LLC bought a new position in VNET Group during the 3rd quarter worth approximately $147,000. Finally, SBI Securities Co. Ltd. lifted its holdings in VNET Group by 24.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 25,723 shares of the information technology services provider’s stock worth $143,000 after buying an additional 5,128 shares during the last quarter. Institutional investors own 72.83% of the company’s stock.

VNET Group Company Profile

VNET Group, Inc (NASDAQ:VNET), formerly known as 21Vianet Group, is a provider of data center and information technology infrastructure services in China. Founded in 1999, the company operates carrier-neutral data centers that allow customers to house servers and other equipment while connecting to multiple telecommunications and internet networks.

VNET’s services include data center hosting, cloud computing, managed network services, internet connectivity, content delivery and hybrid cloud solutions.