VNET Group, Inc. (NASDAQ:VNET) Given Average Rating of “Buy” by Analysts

Shares of VNET Group, Inc. (NASDAQ:VNET) have received an average rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $9.30.

Several research analysts have commented on VNET shares. Citigroup upped 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. Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Wall Street Zen upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Sunday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VNET. Quantbot Technologies LP bought a new stake in VNET Group in the 1st quarter valued at $36,000. Summit Securities Group LLC bought a new stake in VNET Group in the 1st quarter valued at $40,000. Barclays PLC boosted its holdings in VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 4,939 shares during the period. Headlands Technologies LLC lifted its holdings in shares of VNET Group by 5.7% during the 4th quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock worth $685,000 after acquiring an additional 7,737 shares during the period. Finally, Invesco Ltd. boosted its position in shares of VNET Group by 7.1% during the 1st quarter. Invesco Ltd. now owns 119,104 shares of the information technology services provider’s stock valued at $977,000 after acquiring an additional 7,881 shares in the last quarter. 72.83% of the stock is currently owned by institutional investors.

VNET Group Stock Performance

Shares of VNET Group stock opened at $5.68 on Tuesday. The firm has a market cap of $1.53 billion, a PE ratio of -2.56, a price-to-earnings-growth ratio of 1.01 and a beta of 0.09. The firm’s 50-day simple moving average is $5.85 and its 200-day simple moving average is $7.04. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. VNET Group has a 1 year low of $1.71 and a 1 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) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The business had revenue of $309.52 million for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company earned ($0.28) EPS. Equities analysts forecast that VNET Group will post -0.06 earnings per share for the current fiscal year.

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.