JMP Securities Issues Positive Forecast for GDS (NASDAQ:GDS) Stock Price

GDS (NASDAQ:GDS) had its price objective increased by JMP Securities from $40.00 to $50.00 in a research report sent to investors on Thursday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

GDS has been the subject of several other research reports. Daiwa Capital Markets reissued a “buy” rating on shares of GDS in a research report on Wednesday, May 28th. BMO Capital Markets raised shares of GDS to a “market perform” rating in a research report on Wednesday, July 16th. Wall Street Zen raised shares of GDS from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. raised shares of GDS from a “neutral” rating to an “overweight” rating and raised their price target for the company from $34.00 to $46.00 in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $42.23.

GDS Price Performance

Shares of NASDAQ GDS opened at $32.00 on Thursday. GDS has a fifty-two week low of $14.32 and a fifty-two week high of $52.50. The company has a 50 day simple moving average of $33.09 and a two-hundred day simple moving average of $30.14. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 9.47 and a beta of 0.33. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.47 and a current ratio of 1.47.

GDS (NASDAQ:GDS) last announced its earnings results on Tuesday, May 20th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.70. GDS had a net margin of 40.83% and a return on equity of 1.45%. The business had revenue of $375.14 million during the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter last year, the firm earned ($1.96) earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts expect that GDS will post -0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On GDS

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDS. Canada Pension Plan Investment Board boosted its holdings in GDS by 77.7% in the second quarter. Canada Pension Plan Investment Board now owns 7,004,083 shares of the company’s stock worth $214,115,000 after purchasing an additional 3,062,658 shares during the last quarter. Triata Capital Ltd purchased a new stake in GDS in the fourth quarter worth approximately $41,472,000. Aspex Management HK Ltd boosted its holdings in GDS by 46.4% in the second quarter. Aspex Management HK Ltd now owns 4,406,949 shares of the company’s stock worth $134,720,000 after purchasing an additional 1,397,073 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in GDS by 195.6% in the fourth quarter. Driehaus Capital Management LLC now owns 1,845,623 shares of the company’s stock worth $43,852,000 after purchasing an additional 1,221,289 shares during the last quarter. Finally, Light Street Capital Management LLC purchased a new stake in GDS in the fourth quarter worth approximately $18,655,000. Hedge funds and other 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.