Canaccord Genuity Raises 21Vianet Price Target to $35.00 (VNET)
Research analysts at Canaccord Genuity hoisted their price objective on shares of 21Vianet (NASDAQ:VNET) from $31.00 to $35.00 in a report released on Thursday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price would suggest a potential upside of 23.63% from the stock’s previous close.
Shares of 21Vianet (NASDAQ:VNET) traded up 1.80% during mid-day trading on Thursday, hitting $28.82. 1,367,998 shares of the company’s stock traded hands. 21Vianet has a one year low of $13.13 and a one year high of $32.34. The stock has a 50-day moving average of $28.56 and a 200-day moving average of $27.16. The company’s market cap is $1.915 billion.
21Vianet (NASDAQ:VNET) last announced its earnings results on Wednesday, August 27th. The company reported $0.05 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.65 by $0.60. The company had revenue of $106.10 million for the quarter, compared to the consensus estimate of $641.93 million. During the same quarter last year, the company posted $0.05 earnings per share. 21Vianet’s revenue was up 38.2% compared to the same quarter last year. On average, analysts predict that 21Vianet will post $3.17 earnings per share for the current fiscal year.
Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of 21Vianet in a research note on Thursday, June 5th. They now have a $35.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $32.75.
21Vianet Group, Inc, formerly AsiaCloud Inc, is a holding company. The Company is a carrier-neutral Internet data center services provider in the People’s Republic of China.
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