VNET Group, Inc. (NASDAQ:VNET) Receives $4.78 Average Price Target from Analysts

VNET Group, Inc. (NASDAQ:VNET) has been given an average rating of “Buy” by the seven analysts that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $7.98.

VNET has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $3.10 to $5.00 in a research note on Friday, November 29th. Nomura Securities upgraded VNET Group to a “strong-buy” rating in a report on Friday, February 21st. Citigroup lifted their price objective on VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Friday. Finally, UBS Group increased their price target on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a report on Friday, November 29th.

VNET Group Stock Performance

Shares of NASDAQ:VNET opened at $11.65 on Friday. The company’s 50 day moving average price is $9.23 and its two-hundred day moving average price is $5.60. VNET Group has a 12-month low of $1.42 and a 12-month high of $16.13. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The firm has a market cap of $3.00 billion, a PE ratio of -5.25, a PEG ratio of 1.01 and a beta of 0.06.

VNET Group (NASDAQ:VNET) last issued its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The firm had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. Equities research analysts predict that VNET Group will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On VNET Group

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after buying an additional 4,939 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of VNET Group in the fourth quarter worth $41,000. Wolverine Trading LLC purchased a new position in shares of VNET Group during the third quarter worth about $46,000. Catalina Capital Group LLC bought a new position in shares of VNET Group in the 4th quarter worth $54,000. Finally, Hsbc Holdings PLC purchased a new stake in VNET Group during the fourth quarter valued at about $66,000. 72.83% of the stock is owned by institutional investors.

VNET Group Company Profile

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.