HSBC assumed coverage on shares of 21Vianet Group (NASDAQ:VNET) in a research note published on Monday, Price Targets.com reports. The brokerage issued a hold rating and a $18.50 price objective on the information technology services provider’s stock.
A number of other equities analysts have also recently issued reports on the company. Citigroup lowered their target price on 21Vianet Group from $43.00 to $33.00 and set a buy rating for the company in a report on Wednesday, August 25th. TheStreet cut 21Vianet Group from a c rating to a d rating in a report on Wednesday, June 30th. Zacks Investment Research upgraded 21Vianet Group from a hold rating to a buy rating and set a $20.00 target price for the company in a report on Thursday, August 26th. Finally, JPMorgan Chase & Co. initiated coverage on 21Vianet Group in a report on Tuesday, August 17th. They set an overweight rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $27.70.
Shares of 21Vianet Group stock opened at $16.93 on Monday. The company has a market capitalization of $2.31 billion, a PE ratio of -14.11 and a beta of 0.20. 21Vianet Group has a 12 month low of $14.11 and a 12 month high of $44.45. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.02. The stock’s fifty day simple moving average is $18.43 and its 200 day simple moving average is $21.96.
Several hedge funds and other institutional investors have recently made changes to their positions in VNET. Red Door Wealth Management LLC bought a new position in shares of 21Vianet Group in the 2nd quarter valued at about $25,000. US Bancorp DE grew its holdings in shares of 21Vianet Group by 51.3% in the 2nd quarter. US Bancorp DE now owns 3,296 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 1,117 shares in the last quarter. Ensign Peak Advisors Inc bought a new position in shares of 21Vianet Group in the 2nd quarter valued at about $162,000. Verdence Capital Advisors LLC bought a new position in shares of 21Vianet Group in the 2nd quarter valued at about $201,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of 21Vianet Group by 1,061.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,986 shares of the information technology services provider’s stock valued at $206,000 after acquiring an additional 8,212 shares in the last quarter. Institutional investors own 68.96% of the company’s stock.
About 21Vianet Group
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.
Featured Story: Trading Stocks – What are percentage gainers?
Receive News & Ratings for 21Vianet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 21Vianet Group and related companies with MarketBeat.com's FREE daily email newsletter.