VNET Group (NASDAQ:VNET) Price Target Raised to $7.00

VNET Group (NASDAQ:VNET) had its target price increased by UBS Group from $6.40 to $7.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Citigroup began coverage on shares of VNET Group in a research note on Wednesday, September 4th. They set a “buy” rating and a $4.00 target price for the company. HSBC raised 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 report on Wednesday, October 9th. Hsbc Global Res raised VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com raised VNET Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $4.78.

VNET Group Stock Performance

Shares of NASDAQ VNET opened at $3.88 on Friday. VNET Group has a 12 month low of $1.39 and a 12 month high of $4.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The company has a market cap of $998.71 million, a P/E ratio of -1.75 and a beta of -0.27. The business’s 50 day moving average is $3.69 and its two-hundred day moving average is $2.73.

Institutional Investors Weigh In On VNET Group

A number of institutional investors have recently added to or reduced their stakes in VNET. Ballentine Partners LLC bought a new position in shares of VNET Group during the 2nd quarter worth approximately $36,000. Wolverine Trading LLC acquired a new position in VNET Group during the third quarter worth $46,000. AXA S.A. acquired a new position in VNET Group during the second quarter worth $65,000. Walleye Capital LLC bought a new position in shares of VNET Group during the third quarter valued at $115,000. Finally, Blue Trust Inc. boosted its stake in shares of VNET Group by 785.4% in the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock valued at $172,000 after purchasing an additional 37,322 shares in the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

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.