VNET Group, Inc. (NASDAQ:VNET) Receives Consensus Rating of "Buy" from Brokerages

Shares of VNET Group, Inc. (NASDAQ:VNET - Get Free Report) have received an average rating of "Buy" from the six research firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.78.

Several equities analysts have recently issued reports on VNET shares. StockNews.com raised VNET Group from a "sell" rating to a "hold" rating in a research note on Wednesday, August 21st. Hsbc Global Res raised VNET Group to a "strong-buy" rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised VNET Group from a "neutral" rating to a "buy" rating and lifted their price target for the company from $3.10 to $5.00 in a research note on Friday. UBS Group increased their price objective on shares of VNET Group from $6.40 to $7.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Citigroup initiated coverage on shares of VNET Group in a research note on Wednesday, September 4th. They set a "buy" rating and a $4.00 price objective on the stock.

VNET Group Price Performance

VNET stock traded up $0.02 during trading on Friday, hitting $3.88. 1,507,069 shares of the stock traded hands, compared to its average volume of 1,572,444. The company has a 50 day simple moving average of $3.68 and a 200 day simple moving average of $2.71. VNET Group has a one year low of $1.39 and a one year high of $4.50. The stock has a market cap of $998.70 million, a price-to-earnings ratio of -1.75 and a beta of -0.27. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.05. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The company had revenue of $274.35 million during the quarter, compared to the consensus estimate of $266.56 million. Equities analysts expect that VNET Group will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On VNET Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VNET. Ballentine Partners LLC bought a new position in VNET Group in the second quarter valued at about $36,000. Wolverine Trading LLC acquired a new position in VNET Group during the 3rd quarter worth about $46,000. AXA S.A. bought a new position in VNET Group during the 2nd quarter worth approximately $65,000. Walleye Capital LLC acquired a new position in shares of VNET Group in the 3rd quarter worth approximately $115,000. Finally, Blue Trust Inc. raised its stake in VNET Group by 785.4% during the third quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider's stock worth $172,000 after buying an additional 37,322 shares during the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

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.