VNET Group, Inc. (NASDAQ:VNET) Receives Average Recommendation of “Buy” from Brokerages

VNET Group, Inc. (NASDAQ:VNET) has been given a consensus recommendation of “Buy” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $4.78.

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

Institutional Investors Weigh In On VNET Group

A number of hedge funds have recently added to or reduced their stakes in the company. Wolverine Trading LLC bought a new position in shares of VNET Group in the 3rd 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 in the third quarter valued at $115,000. Blue Trust Inc. grew its holdings in shares of VNET Group by 785.4% during the third quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock valued at $172,000 after buying an additional 37,322 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in VNET Group during the 3rd quarter worth approximately $191,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Price Performance

Shares of NASDAQ VNET opened at $5.60 on Friday. VNET Group has a twelve month low of $1.39 and a twelve month high of $6.00. The company has a market cap of $1.44 billion, a PE ratio of -2.52, a price-to-earnings-growth ratio of 0.52 and a beta of -0.24. The business’s 50 day moving average price is $4.28 and its two-hundred day moving average price is $3.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

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.