GDS (NASDAQ:GDS) Stock Price Up 10% – What’s Next?

GDS Holdings Limited (NASDAQ:GDS) shares were up 10% during trading on Friday . The company traded as high as $27.94 and last traded at $28.34. Approximately 437,365 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 3,376,360 shares. The stock had previously closed at $25.76.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GDS. Jefferies Financial Group upgraded GDS from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday, March 18th. Royal Bank of Canada cut GDS from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $26.00 to $37.00 in a research note on Tuesday, February 25th. Citizens Jmp raised shares of GDS to a “strong-buy” rating in a research note on Monday, January 27th. Daiwa Capital Markets upgraded shares of GDS from a “neutral” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, JMP Securities set a $40.00 target price on shares of GDS in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $39.48.

GDS Price Performance

The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19. The company has a fifty day moving average price of $27.42 and a two-hundred day moving average price of $25.29. The company has a market cap of $5.35 billion, a P/E ratio of -9.21 and a beta of 0.28.

GDS (NASDAQ:GDS) last posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.17. GDS had a negative return on equity of 8.22% and a negative net margin of 35.97%. The firm had revenue of $425.13 million for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the previous year, the firm earned ($2.16) EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts anticipate that GDS Holdings Limited will post -0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GDS

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of GDS by 20.5% in the third quarter. Geode Capital Management LLC now owns 77,057 shares of the company’s stock valued at $1,572,000 after buying an additional 13,121 shares during the last quarter. Tidal Investments LLC bought a new position in GDS during the third quarter worth $842,000. JPMorgan Chase & Co. raised its position in shares of GDS by 7,553.4% in the third quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock valued at $12,461,000 after purchasing an additional 602,840 shares during the period. Blue Trust Inc. lifted its stake in shares of GDS by 121.9% during the 4th quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock worth $132,000 after buying an additional 3,053 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of GDS by 26.5% during the 4th quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock worth $21,360,000 after buying an additional 188,072 shares during the period. Institutional investors own 33.71% of the company’s stock.

GDS Company Profile

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services.