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

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) has been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.96.

A number of research analysts recently weighed in on VNET shares. Bank of America lifted their price objective on shares of VNET Group from $11.80 to $12.60 and gave the company a “buy” rating in a report on Friday, August 22nd. Wall Street Zen cut shares of VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, August 23rd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of VNET Group by 111.0% in 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 acquired a new position in VNET Group during the 4th quarter worth approximately $66,000. Cetera Investment Advisers acquired a new position in VNET Group during the 4th quarter worth approximately $102,000. Oppenheimer & Co. Inc. acquired a new position in VNET Group during the 1st quarter worth approximately $207,000. Finally, Barclays PLC grew its holdings in VNET Group by 229.3% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Price Performance

Shares of VNET opened at $8.66 on Friday. VNET Group has a 1-year low of $2.25 and a 1-year high of $16.13. The stock has a market cap of $2.33 billion, a PE ratio of -108.25, a P/E/G ratio of 6.02 and a beta of 0.18. The firm has a 50-day simple moving average of $7.77 and a two-hundred day simple moving average of $7.76. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.97 and a quick ratio of 0.97.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). VNET Group had a net margin of 0.74% and a return on equity of 0.98%. The company had revenue of $339.65 million for the quarter, compared to analyst estimates of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. As a group, analysts forecast that VNET Group will post -0.06 EPS for the current year.

VNET Group declared that its Board of Directors has authorized a share repurchase plan on Friday, June 27th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the information technology services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

VNET Group Company Profile

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.