StockNews.com lowered shares of VNET Group (NASDAQ:VNET – Free Report) from a hold rating to a sell rating in a research report report published on Friday.
VNET has been the subject of a number of other research reports. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $3.10 to $5.00 in a research note on Friday, November 29th. Citigroup raised their price objective on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research note on Friday. UBS Group raised their price objective on 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 raised VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $7.98.
Read Our Latest Stock Analysis on VNET Group
VNET Group Stock Up 12.0 %
VNET Group (NASDAQ:VNET – Get Free Report) last announced its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The business had revenue of $307.75 million for 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%. Equities research analysts anticipate that VNET Group will post -0.06 EPS for the current year.
Institutional Trading of VNET Group
Several hedge funds have recently made changes to their positions in VNET. Triata Capital Ltd bought a new stake in shares of VNET Group in the fourth quarter valued at $47,377,000. D. E. Shaw & Co. Inc. bought a new stake in shares of VNET Group in the fourth quarter valued at $7,183,000. Man Group plc bought a new stake in shares of VNET Group in the fourth quarter valued at $5,094,000. Bank of America Corp DE raised its stake in shares of VNET Group by 610.2% in the fourth quarter. Bank of America Corp DE now owns 1,198,750 shares of the information technology services provider’s stock valued at $5,682,000 after buying an additional 1,029,963 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of VNET Group by 622.8% in the fourth quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock valued at $4,690,000 after buying an additional 852,519 shares during the period. 72.83% of the stock is currently owned by 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.
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