21Vianet Group, Inc. (NASDAQ:VNET) Given Consensus Recommendation of “Buy” by Brokerages

21Vianet Group, Inc. (NASDAQ:VNET) has been given a consensus rating of “Buy” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $30.00.

A number of research analysts have recently weighed in on VNET shares. TheStreet downgraded 21Vianet Group from a “c” rating to a “d” rating in a report on Wednesday, June 30th. JPMorgan Chase & Co. started coverage on 21Vianet Group in a report on Tuesday, August 17th. They set an “overweight” rating and a $27.00 price target on the stock. Citigroup lowered their price target on 21Vianet Group from $43.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, August 25th. Finally, Zacks Investment Research upgraded 21Vianet Group from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Thursday, August 26th.

Shares of NASDAQ VNET opened at $17.64 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -14.70 and a beta of 0.20. The stock’s fifty day simple moving average is $18.56 and its 200 day simple moving average is $23.67. 21Vianet Group has a 52-week low of $14.11 and a 52-week high of $44.45.

21Vianet Group (NASDAQ:VNET) last issued its earnings results on Monday, August 23rd. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $3.09. The business had revenue of $231.85 million for the quarter, compared to analysts’ expectations of $228.01 million. 21Vianet Group had a negative return on equity of 7.80% and a negative net margin of 10.03%. As a group, analysts anticipate that 21Vianet Group will post 0.13 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vestmark Advisory Solutions Inc. lifted its position in shares of 21Vianet Group by 3.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 12,303 shares of the information technology services provider’s stock worth $397,000 after buying an additional 445 shares during the last quarter. Swiss National Bank lifted its position in shares of 21Vianet Group by 0.4% in the second quarter. Swiss National Bank now owns 194,120 shares of the information technology services provider’s stock worth $4,455,000 after buying an additional 800 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of 21Vianet Group by 3.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,460 shares of the information technology services provider’s stock worth $886,000 after buying an additional 960 shares during the last quarter. US Bancorp DE lifted its position in shares of 21Vianet Group by 51.3% in the second quarter. US Bancorp DE now owns 3,296 shares of the information technology services provider’s stock worth $75,000 after buying an additional 1,117 shares during the last quarter. Finally, Red Door Wealth Management LLC bought a new position in shares of 21Vianet Group in the second quarter worth about $25,000. 68.96% of the stock is owned by hedge funds and other institutional investors.

21Vianet Group Company Profile

21Vianet Group, Inc is a holding company, which engages in the provision of carrier-neutral internet data center services. Its services include interconnectivity, colocation or data center managed hosting services, and cloud services. The company was founded by Sheng Chen and Jun Zhang on October 16, 1999 and is headquartered in Beijing, China.

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