VNET Group, Inc. (NASDAQ:VNET) Receives $4.78 Consensus Price Target from Analysts

VNET Group, Inc. (NASDAQ:VNET) has been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $4.78.

A number of equities analysts recently commented on VNET shares. Hsbc Global Res upgraded shares of VNET Group to a “strong-buy” rating in a research note on Wednesday, October 9th. HSBC upgraded shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $3.10 to $5.00 in a research note on Friday, November 29th. Finally, UBS Group upped their price objective on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research note on Friday, November 29th.

VNET Group Stock Performance

Shares of VNET stock opened at $6.36 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. The firm has a fifty day moving average price of $4.43 and a 200 day moving average price of $3.40. The company has a market cap of $1.64 billion, a P/E ratio of -2.86, a PEG ratio of 0.53 and a beta of -0.24. VNET Group has a 12 month low of $1.39 and a 12 month high of $6.56.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in VNET Group by 29.1% during the fourth quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider’s stock worth $257,000 after purchasing an additional 12,237 shares in the last quarter. SG Americas Securities LLC raised its holdings in VNET Group by 534.6% during the fourth quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock worth $1,931,000 after purchasing an additional 343,140 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in VNET Group by 136,783.0% during the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock worth $558,000 after purchasing an additional 136,783 shares in the last quarter. Virtu Financial LLC purchased a new position in VNET Group during the third quarter worth about $519,000. Finally, Geode Capital Management LLC raised its holdings in VNET Group by 237.7% during the third quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock worth $1,218,000 after purchasing an additional 210,124 shares in the last quarter. 72.83% of the stock is owned by hedge funds and other institutional investors.

VNET Group Company Profile

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.