GDS (NASDAQ:GDS) Price Target Cut to $75.00

GDS (NASDAQ:GDSGet Rating) had its price target reduced by research analysts at Truist Financial from $85.00 to $75.00 in a note issued to investors on Thursday, The Fly reports. Truist Financial’s price objective would indicate a potential upside of 140.46% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Raymond James lowered their price target on shares of GDS from $68.00 to $55.00 in a research report on Thursday. Credit Suisse Group lowered their price target on GDS from $71.50 to $48.90 and set an “outperform” rating on the stock in a report on Monday. Cowen lowered their price objective on shares of GDS from $53.00 to $47.00 in a research note on Thursday. Zacks Investment Research raised GDS from a “sell” rating to a “hold” rating in a research report on Tuesday, March 22nd. Finally, Cowen cut their price objective on GDS from $53.00 to $47.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $64.89.

Shares of NASDAQ:GDS opened at $31.19 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.19. GDS has a fifty-two week low of $19.83 and a fifty-two week high of $81.81. The firm’s 50-day simple moving average is $33.50 and its 200-day simple moving average is $42.61. The company has a market cap of $5.83 billion, a price-to-earnings ratio of -24.25 and a beta of 1.07.

GDS (NASDAQ:GDSGet Rating) last released its earnings results on Tuesday, March 22nd. The company reported ($0.30) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm earned ($0.26) earnings per share. GDS’s revenue was up 34.0% compared to the same quarter last year. On average, research analysts forecast that GDS will post -1.6 EPS for the current year.

A number of institutional investors have recently made changes to their positions in GDS. Exchange Traded Concepts LLC raised its stake in GDS by 207.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 744 shares of the company’s stock valued at $29,000 after acquiring an additional 502 shares during the period. Lindbrook Capital LLC grew its holdings in shares of GDS by 105.8% during the fourth quarter. Lindbrook Capital LLC now owns 1,107 shares of the company’s stock worth $52,000 after purchasing an additional 569 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of GDS by 109.9% during the first quarter. Advisor Group Holdings Inc. now owns 3,434 shares of the company’s stock worth $178,000 after purchasing an additional 1,798 shares in the last quarter. Wolverine Asset Management LLC grew its holdings in shares of GDS by 836.4% during the first quarter. Wolverine Asset Management LLC now owns 3,682 shares of the company’s stock worth $144,000 after purchasing an additional 4,182 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of GDS by 8.2% during the third quarter. Guggenheim Capital LLC now owns 4,048 shares of the company’s stock worth $229,000 after purchasing an additional 308 shares in the last quarter. 53.92% of the stock is owned by hedge funds and other institutional investors.

About GDS (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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