21Vianet Group (NASDAQ:VNET) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $9.25 price target on the information technology services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.34% from the stock’s current price.
According to Zacks, “21Vianet Group, Inc. operates as a carrier-neutral Internet data center services provider in China. It provides hosting and related services, managed network services and cloud computing infrastructure. The Company’s infrastructure is interconnected with the networks operated by all of China’s telecommunications carriers, major non-carriers and local Internet service providers, or ISPs. 21Vianet Group, Incorporation. Its customers include Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises. 21Vianet Group, Inc. is headquartered in Beijing, the Peoples’ Republic of China. “
Several other research analysts have also commented on the stock. BidaskClub raised shares of 21Vianet Group from a “hold” rating to a “buy” rating in a report on Wednesday. ValuEngine lowered shares of 21Vianet Group from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC boosted its holdings in shares of 21Vianet Group by 173.5% in the 3rd quarter. Aperio Group LLC now owns 72,443 shares of the information technology services provider’s stock valued at $412,000 after buying an additional 45,954 shares during the period. Pictet Asset Management Ltd. acquired a new position in shares of 21Vianet Group in the 3rd quarter valued at about $262,000. River & Mercantile Asset Management LLP boosted its holdings in shares of 21Vianet Group by 56.3% in the 4th quarter. River & Mercantile Asset Management LLP now owns 1,030,959 shares of the information technology services provider’s stock valued at $8,232,000 after buying an additional 371,362 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 21Vianet Group by 55.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,868 shares of the information technology services provider’s stock valued at $5,117,000 after buying an additional 363,257 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in shares of 21Vianet Group by 37.6% in the 3rd quarter. California Public Employees Retirement System now owns 160,196 shares of the information technology services provider’s stock valued at $912,000 after buying an additional 43,796 shares during the period. 25.69% of the stock is owned by institutional investors and hedge funds.
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21Vianet Group Company Profile
21Vianet Group, Inc is a carrier-neutral Internet data center services provider. The Company hosts its customers’ servers and networking equipment and provides interconnectivity. The Company also provides managed network services to enable customers to deliver data across the Internet through its data transmission network and smart routing technology.
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