VNET Group, Inc. (NASDAQ:VNET) Receives $4.78 Consensus PT from Brokerages

Shares of VNET Group, Inc. (NASDAQ:VNET) have been given a consensus rating of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $4.78.

Several research analysts have issued reports on the stock. Hsbc Global Res upgraded shares of VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. UBS Group lifted their target price on shares of VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. The Goldman Sachs Group raised shares of VNET Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $3.10 to $5.00 in a research report on Friday, November 29th. Finally, HSBC raised VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective for the company in a research report on Wednesday, October 9th.

VNET Group Price Performance

Shares of VNET opened at $6.99 on Friday. The business has a 50-day moving average of $4.57 and a 200-day moving average of $3.46. VNET Group has a 1 year low of $1.39 and a 1 year high of $7.19. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -3.15, a price-to-earnings-growth ratio of 0.55 and a beta of -0.24. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83.

Hedge Funds Weigh In On VNET Group

Institutional investors have recently made changes to their positions in the stock. Wolverine Trading LLC bought a new stake in VNET Group in the 3rd quarter valued at about $46,000. Catalina Capital Group LLC bought a new stake in shares of VNET Group during the fourth quarter valued at approximately $54,000. AXA S.A. acquired a new position in shares of VNET Group during the second quarter worth approximately $65,000. Walleye Capital LLC bought a new position in shares of VNET Group in the 3rd quarter worth $115,000. Finally, Blue Trust Inc. grew its position in VNET Group by 785.4% in the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock valued at $172,000 after purchasing an additional 37,322 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.

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.