JMP Securities Reiterates Market Outperform Rating for GDS (NASDAQ:GDS)

GDS (NASDAQ:GDS)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $40.00 price objective on the stock. JMP Securities’ price objective would indicate a potential upside of 42.05% from the stock’s previous close.

GDS has been the topic of several other research reports. Citizens Jmp upgraded shares of GDS to a “strong-buy” rating in a research note on Monday, January 27th. Daiwa Capital Markets raised shares of GDS from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 11th. Raymond James raised shares of GDS from an “outperform” rating to a “strong-buy” rating and set a $53.00 price target for the company in a research report on Thursday, March 20th. Citigroup reaffirmed an “outperform” rating on shares of GDS in a research report on Thursday, March 20th. Finally, Royal Bank of Canada lowered shares of GDS from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $26.00 to $37.00 in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $39.48.

GDS Price Performance

GDS opened at $28.16 on Wednesday. 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 stock has a market capitalization of $5.37 billion, a P/E ratio of -9.23 and a beta of 0.28. The company’s 50-day simple moving average is $24.85 and its two-hundred day simple moving average is $25.83. GDS has a 52-week low of $7.35 and a 52-week high of $52.50.

GDS (NASDAQ:GDS) last posted its earnings results on Tuesday, May 20th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.70. The business had revenue of $375.14 million for the quarter, compared to analysts’ expectations of $2.72 billion. GDS had a negative net margin of 35.97% and a negative return on equity of 8.22%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.96) EPS. As a group, analysts predict that GDS will post -0.89 EPS for the current year.

Institutional Investors Weigh In On GDS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDS. Blue Trust Inc. increased its holdings in GDS by 121.9% in the 4th quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock worth $132,000 after acquiring an additional 3,053 shares in the last quarter. Pacer Advisors Inc. increased its holdings in GDS by 26.5% in the 4th quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock worth $21,360,000 after acquiring an additional 188,072 shares in the last quarter. abrdn plc increased its holdings in GDS by 5.4% in the 4th quarter. abrdn plc now owns 279,800 shares of the company’s stock worth $6,648,000 after acquiring an additional 14,300 shares in the last quarter. Macroview Investment Management LLC increased its holdings in GDS by 37.4% in the 4th quarter. Macroview Investment Management LLC now owns 18,550 shares of the company’s stock worth $441,000 after acquiring an additional 5,050 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in GDS in the 4th quarter worth approximately $1,938,000. 33.71% of the stock is owned by hedge funds and other institutional investors.

About GDS

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.