Hsbc Global Res upgraded shares of VNET Group (NASDAQ:VNET – Free Report) to a strong-buy rating in a research report report published on Wednesday, Zacks.com reports.
A number of other brokerages also recently issued reports on VNET. StockNews.com upgraded VNET Group from a sell rating to a hold rating in a report on Wednesday, August 21st. HSBC raised VNET Group from a hold rating to a buy rating and set a $5.20 target price on the stock in a research note on Wednesday. Finally, Citigroup started coverage on VNET Group in a research note on Wednesday, September 4th. They issued a buy rating and a $4.00 price target for the company. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $3.97.
Read Our Latest Analysis on VNET Group
VNET Group Stock Performance
VNET Group (NASDAQ:VNET – Get Free Report) last posted its quarterly earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $274.35 million during the quarter, compared to analyst estimates of $266.56 million. VNET Group had a negative net margin of 34.62% and a negative return on equity of 11.44%. Analysts expect that VNET Group will post 0.02 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Catalina Capital Group LLC purchased a new position in VNET Group during the 1st quarter valued at about $26,000. Ballentine Partners LLC purchased a new position in shares of VNET Group during the second quarter valued at approximately $36,000. AXA S.A. bought a new stake in shares of VNET Group in the 2nd quarter worth approximately $65,000. Headlands Technologies LLC grew its stake in shares of VNET Group by 1,199.7% in the 1st quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after buying an additional 39,050 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in VNET Group during the 3rd quarter valued at approximately $262,000. Institutional investors own 72.83% of the company’s stock.
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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