VNET Group (NASDAQ:VNET) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of VNET Group (NASDAQ:VNET) from a sell rating to a hold rating in a research report report published on Friday.

Other equities analysts have also issued research reports about the stock. Bank of America increased their price target on shares of VNET Group from $11.80 to $12.60 and gave the stock a “buy” rating in a report on Friday, August 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of VNET Group in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, VNET Group currently has a consensus rating of “Buy” and an average price target of $9.96.

VNET Group Trading Down 5.9%

NASDAQ:VNET opened at $10.58 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50-day moving average of $8.72 and a 200-day moving average of $7.36. The company has a market cap of $2.85 billion, a PE ratio of -132.25, a PEG ratio of 6.48 and a beta of 0.20. VNET Group has a one year low of $3.17 and a one year high of $16.13.

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

VNET Group announced that its board has initiated a share repurchase plan on Friday, June 27th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On VNET Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in shares of VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 1,426 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in VNET Group by 16.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 2,100 shares during the period. Bingham Private Wealth LLC increased its stake in VNET Group by 24.3% during the second quarter. Bingham Private Wealth LLC now owns 13,050 shares of the information technology services provider’s stock worth $90,000 after purchasing an additional 2,547 shares during the period. Main Management ETF Advisors LLC increased its stake in VNET Group by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 168,548 shares of the information technology services provider’s stock worth $1,163,000 after purchasing an additional 2,736 shares during the period. Finally, Personal CFO Solutions LLC increased its stake in shares of VNET Group by 9.3% during the second quarter. Personal CFO Solutions LLC now owns 34,505 shares of the information technology services provider’s stock worth $238,000 after buying an additional 2,933 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.

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.