GDS (NASDAQ:GDS) Given New $47.00 Price Target at Cowen

GDS (NASDAQ:GDSGet Rating) had its price target trimmed by Cowen from $53.00 to $47.00 in a research note issued to investors on Thursday, Stock Target Advisor reports.

A number of other brokerages have also issued reports on GDS. Royal Bank of Canada dropped their price target on shares of GDS from $65.00 to $58.00 and set an outperform rating for the company in a research note on Thursday, March 24th. Credit Suisse Group lowered their target price on shares of GDS from $71.50 to $48.90 and set an outperform rating for the company in a research note on Monday. Truist Financial lowered their target price on shares of GDS from $115.00 to $85.00 and set a buy rating for the company in a research note on Tuesday, February 8th. Zacks Investment Research upgraded shares of GDS from a sell rating to a hold rating in a research note on Tuesday, March 22nd. Finally, Cowen lowered their target price on shares of GDS from $53.00 to $47.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Buy and an average price target of $64.89.

Shares of NASDAQ:GDS traded down $2.12 during midday trading on Thursday, reaching $28.97. The company had a trading volume of 33,666 shares, compared to its average volume of 1,629,245. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s fifty day moving average price is $33.58 and its 200-day moving average price is $42.53. The stock has a market capitalization of $5.41 billion, a P/E ratio of -20.66 and a beta of 1.07. GDS has a one year low of $19.83 and a one year high of $81.81.

GDS (NASDAQ:GDSGet Rating) last issued its quarterly earnings results on Tuesday, March 22nd. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.15 billion. GDS had a negative net margin of 18.43% and a negative return on equity of 6.25%. The business’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. As a group, sell-side analysts forecast that GDS will post -1.6 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of GDS. Exchange Traded Concepts LLC lifted its holdings 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 last quarter. Lindbrook Capital LLC lifted its holdings in GDS by 105.8% in the 4th quarter. Lindbrook Capital LLC now owns 1,107 shares of the company’s stock valued at $52,000 after acquiring an additional 569 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings in GDS by 836.4% in the 1st quarter. Wolverine Asset Management LLC now owns 3,682 shares of the company’s stock valued at $144,000 after acquiring an additional 4,182 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in GDS by 109.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,434 shares of the company’s stock valued at $178,000 after acquiring an additional 1,798 shares during the last quarter. Finally, Ethic Inc. acquired a new stake in GDS in the 1st quarter valued at about $218,000. 53.92% of the stock is owned by institutional investors and hedge funds.

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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