Credit Suisse Group Cuts GDS (NASDAQ:GDS) Price Target to $48.90

GDS (NASDAQ:GDSGet Rating) had its price objective cut by Credit Suisse Group from $71.50 to $48.90 in a research note published on Monday morning, The Fly reports.

Several other research firms have also recently issued reports on GDS. Morgan Stanley upgraded GDS from an equal weight rating to an overweight rating and set a $60.00 price objective on the stock in a report on Wednesday, February 9th. Truist Financial dropped their price target on GDS from $115.00 to $85.00 and set a buy rating for the company in a research report on Tuesday, February 8th. Raymond James lowered GDS from a strong-buy rating to an outperform rating and set a $68.00 price objective on the stock. in a report on Wednesday, March 23rd. Deutsche Bank Aktiengesellschaft raised shares of GDS from a hold rating to a buy rating and set a $55.00 target price on the stock in a research note on Thursday, March 24th. Finally, Zacks Investment Research upgraded shares of GDS from a sell rating to a hold rating in a research report on Tuesday, March 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, GDS currently has an average rating of Buy and a consensus price target of $72.24.

Shares of NASDAQ:GDS opened at $28.00 on Monday. The business’s 50 day moving average price is $33.86 and its 200-day moving average price is $42.92. GDS has a 1 year low of $19.83 and a 1 year high of $81.81. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of -25.00 and a beta of 1.07. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.07 and a quick ratio of 1.07.

GDS (NASDAQ:GDSGet Rating) last posted its quarterly earnings data on Tuesday, March 22nd. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. GDS had a negative net margin of 16.17% and a negative return on equity of 5.09%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the prior year, the business posted ($0.26) earnings per share. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. On average, sell-side analysts expect that GDS will post -1.6 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. lifted its holdings in GDS by 11.5% in the third quarter. Alliancebernstein L.P. now owns 751,836 shares of the company’s stock valued at $42,561,000 after acquiring an additional 77,585 shares during the last quarter. Creative Planning raised its position in GDS by 6.5% in the third quarter. Creative Planning now owns 49,539 shares of the company’s stock valued at $2,804,000 after purchasing an additional 3,039 shares during the period. Rafferty Asset Management LLC acquired a new position in shares of GDS in the 3rd quarter valued at $474,000. Handelsbanken Fonder AB grew its holdings in shares of GDS by 13.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 51,100 shares of the company’s stock worth $2,893,000 after purchasing an additional 6,000 shares during the period. Finally, KBC Group NV increased its position in shares of GDS by 26.1% during the 3rd quarter. KBC Group NV now owns 17,658 shares of the company’s stock worth $1,000,000 after purchasing an additional 3,658 shares during the last quarter. 53.92% of the stock is currently owned by institutional investors.

GDS Company Profile (Get Rating)

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation, managed hosting, and managed cloud services, as well as consulting services to the cloud, internet and banking industries. The company serves cloud service providers, Internet companies, financial institutions, telecommunications and IT service providers, and large domestic private sector and multinational corporations.

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