VNET Group (NASDAQ:VNET) Stock Price Expected to Rise, Citigroup Analyst Says

VNET Group (NASDAQ:VNET) had its target price increased by investment analysts at Citigroup from $16.10 to $20.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Citigroup’s target price would suggest a potential upside of 71.67% from the company’s previous close.

A number of other research firms also recently commented on VNET. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. UBS Group raised their target price 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. Finally, Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $7.98.

VNET Group Stock Performance

Shares of VNET Group stock opened at $11.65 on Friday. The firm has a fifty day moving average of $9.23 and a two-hundred day moving average of $5.60. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -5.25, a PEG ratio of 1.01 and a beta of 0.06. VNET Group has a 52 week low of $1.42 and a 52 week high of $16.13. 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 (NASDAQ:VNET) last released its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $307.75 million during the quarter, compared to the consensus estimate of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. As a group, equities research analysts predict that VNET Group will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Barclays PLC raised 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 acquiring an additional 4,939 shares during the period. Headlands Technologies LLC increased its holdings in shares of VNET Group by 5.7% during the fourth quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock worth $685,000 after purchasing an additional 7,737 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of VNET Group during the fourth quarter worth approximately $41,000. Catalina Capital Group LLC bought a new position in shares of VNET Group during the fourth quarter worth approximately $54,000. Finally, Wolverine Trading LLC bought a new position in shares of VNET Group during the third quarter worth approximately $46,000. 72.83% of the stock is owned by institutional investors.

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.