Analysts Set VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Price Target at $9.30

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been given an average recommendation of “Buy” by the six analysts that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $9.30.

A number of research analysts recently weighed in on the company. Wall Street Zen raised VNET Group from a “sell” rating to a “hold” rating in a report on Sunday, June 15th. Citigroup boosted their target price on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 14th.

VNET Group Stock Up 0.7%

VNET stock opened at $5.48 on Tuesday. The stock has a market capitalization of $1.47 billion, a PE ratio of -548.00, a price-to-earnings-growth ratio of 1.22 and a beta of 0.09. The company has a fifty day moving average of $5.83 and a 200-day moving average of $7.06. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.10 and a current ratio of 1.10. VNET Group has a one year low of $1.71 and a one year high of $16.13.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data on Wednesday, May 28th. The information technology services provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). VNET Group had a net margin of 1.66% and a return on equity of 2.11%. The firm had revenue of $309.52 million during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the business earned ($0.28) EPS. As a group, analysts expect that VNET Group will post -0.06 EPS for the current year.

Institutional Trading of VNET Group

Large investors have recently bought and sold shares of the company. Asset Management One Co. Ltd. purchased a new position in VNET Group during the 4th quarter valued at about $152,000. Los Angeles Capital Management LLC purchased a new position in shares of VNET Group during the 4th quarter worth approximately $294,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of VNET Group by 472.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 278,801 shares of the information technology services provider’s stock worth $1,322,000 after purchasing an additional 230,068 shares during the last quarter. American Century Companies Inc. lifted its stake in VNET Group by 20.4% in the 4th quarter. American Century Companies Inc. now owns 474,929 shares of the information technology services provider’s stock valued at $2,251,000 after buying an additional 80,516 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake 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 valued at $4,690,000 after buying an additional 852,519 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

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.