Brokerages Set VNET Group, Inc. (NASDAQ:VNET) Target Price at $9.30

Shares of VNET Group, Inc. (NASDAQ:VNET - Get Free Report) have been assigned an average rating of "Buy" from the six research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $9.30.

A number of equities analysts have recently weighed in on the stock. Nomura Securities upgraded VNET Group to a "strong-buy" rating in a report on Friday, February 21st. StockNews.com cut VNET Group from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Finally, Citigroup lifted their target price on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 14th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VNET. Triata Capital Ltd bought a new stake in VNET Group during the 4th quarter worth approximately $47,377,000. D. E. Shaw & Co. Inc. purchased a new stake in VNET Group during the 4th quarter worth approximately $7,183,000. Man Group plc purchased a new position in shares of VNET Group during the fourth quarter worth $5,094,000. Bank of America Corp DE raised its position in shares of VNET Group by 610.2% in the fourth quarter. Bank of America Corp DE now owns 1,198,750 shares of the information technology services provider's stock worth $5,682,000 after acquiring an additional 1,029,963 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in VNET Group by 622.8% in the 4th quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider's stock worth $4,690,000 after buying an additional 852,519 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company's stock.

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VNET Group Trading Up 0.8 %

VNET Group stock traded up $0.05 during trading on Thursday, hitting $6.44. The company's stock had a trading volume of 11,861,997 shares, compared to its average volume of 3,646,109. VNET Group has a 1-year low of $1.42 and a 1-year high of $16.13. The stock's fifty day moving average is $10.11 and its 200 day moving average is $6.27. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -2.90, a P/E/G ratio of 1.01 and a beta of 0.15. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

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

About VNET Group

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.