Bank of America Forecasts Strong Price Appreciation for GDS (NASDAQ:GDS) Stock

GDS (NASDAQ:GDS) had its target price upped by analysts at Bank of America from $47.60 to $50.60 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 51.00% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen raised GDS from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. JMP Securities upped their price target on GDS from $40.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Thursday. BMO Capital Markets raised GDS to a “market perform” rating in a report on Wednesday, July 16th. Daiwa Capital Markets reissued a “buy” rating on shares of GDS in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. raised GDS from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $34.00 to $46.00 in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $46.93.

GDS Price Performance

Shares of GDS stock opened at $33.51 on Friday. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 9.91 and a beta of 0.33. The business’s fifty day moving average is $33.24 and its 200 day moving average is $30.22. GDS has a twelve month low of $15.88 and a twelve month high of $52.50. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 1.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board lifted its holdings in shares of GDS by 77.7% during the second quarter. Canada Pension Plan Investment Board now owns 7,004,083 shares of the company’s stock valued at $214,115,000 after purchasing an additional 3,062,658 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of GDS by 10.5% during the fourth quarter. Bamco Inc. NY now owns 6,673,226 shares of the company’s stock valued at $158,556,000 after purchasing an additional 632,671 shares in the last quarter. Tekne Capital Management LLC lifted its holdings in shares of GDS by 6.9% during the second quarter. Tekne Capital Management LLC now owns 6,263,467 shares of the company’s stock valued at $191,474,000 after purchasing an additional 403,256 shares in the last quarter. Aspex Management HK Ltd lifted its holdings in shares of GDS by 23.0% during the fourth quarter. Aspex Management HK Ltd now owns 4,926,727 shares of the company’s stock valued at $117,059,000 after purchasing an additional 922,709 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in shares of GDS by 195.6% during the fourth quarter. Driehaus Capital Management LLC now owns 1,845,623 shares of the company’s stock valued at $43,852,000 after purchasing an additional 1,221,289 shares in the last quarter. 33.71% of the stock is owned by institutional investors.

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.