VNET Group, Inc. (NASDAQ:VNET) Given Average Recommendation of "Buy" by Analysts

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) has earned an average recommendation of "Buy" from the six research firms that are presently covering the company, MarketBeat Ratings reports. Four 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 target among brokerages that have issued a report on the stock in the last year is $9.30.

A number of equities research analysts recently issued reports on the stock. Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a report on Friday, February 21st. Citigroup boosted their price objective on shares of VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Finally, StockNews.com lowered shares of VNET Group from a "hold" rating to a "sell" rating in a research report on Friday, March 14th.

Institutional Investors Weigh In On VNET Group

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in VNET Group by 237.7% in the third quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider's stock worth $1,218,000 after purchasing an additional 210,124 shares during the period. Virtu Financial LLC bought a new stake in VNET Group during the third quarter worth about $519,000. JPMorgan Chase & Co. raised its stake in shares of VNET Group by 136,783.0% in the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider's stock valued at $558,000 after acquiring an additional 136,783 shares during the last quarter. SG Americas Securities LLC grew its position in VNET Group by 534.6% during the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider's stock worth $1,931,000 after acquiring an additional 343,140 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in VNET Group by 29.1% in the fourth quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider's stock worth $257,000 after purchasing an additional 12,237 shares in the last quarter. Institutional investors own 72.83% of the company's stock.

VNET Group Stock Down 0.7 %

VNET stock opened at $5.38 on Monday. The company has a 50 day moving average of $8.85 and a two-hundred day moving average of $6.42. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. VNET Group has a 12-month low of $1.58 and a 12-month high of $16.13. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -2.42, a PEG ratio of 1.01 and a beta of 0.15.

VNET Group (NASDAQ:VNET - Get Free Report) last issued its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share 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 return on equity of 5.68% and a negative net margin of 28.54%. On average, equities analysts anticipate that VNET Group will post -0.06 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.