VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Given Consensus Rating of “Buy” by Brokerages

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.30.

A number of equities research analysts have commented on the company. Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, July 5th. Citigroup raised their price target on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a report on Friday, March 14th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of VNET Group by 111.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,197 shares of the information technology services provider’s stock valued at $670,000 after purchasing an additional 42,710 shares in the last quarter. Hsbc Holdings PLC bought a new stake in VNET Group during the fourth quarter worth approximately $66,000. Cetera Investment Advisers bought a new stake in VNET Group during the fourth quarter worth approximately $102,000. Oppenheimer & Co. Inc. bought a new stake in VNET Group during the first quarter worth approximately $207,000. Finally, Barclays PLC increased its stake in VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 4,939 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Stock Performance

VNET stock opened at $7.95 on Friday. The company has a market cap of $2.14 billion, a P/E ratio of -795.00, a price-to-earnings-growth ratio of 1.31 and a beta of 0.14. VNET Group has a 1 year low of $1.71 and a 1 year high of $16.13. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s fifty day moving average price is $6.26 and its 200-day moving average price is $7.35.

VNET Group (NASDAQ:VNET) last announced its earnings results on Wednesday, May 28th. The information technology services provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). VNET Group had a return on equity of 2.11% and a net margin of 1.66%. The company had revenue of $309.52 million during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the business posted ($0.28) earnings per share. On average, equities analysts forecast that VNET Group will post -0.06 earnings per share for the current year.

VNET Group declared that its Board of Directors has authorized a share buyback plan on Friday, June 27th that permits the company to buyback $0.00 in shares. This buyback authorization permits the information technology services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

About VNET Group

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.