VNET Group (NASDAQ:VNET) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of VNET Group (NASDAQ:VNET) from a neutral rating to a buy rating in a report released on Friday morning, MarketBeat reports. The Goldman Sachs Group currently has $5.00 price target on the information technology services provider’s stock, up from their previous price target of $3.10.

A number of other research firms have also recently issued reports on VNET. StockNews.com raised VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Hsbc Global Res raised VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. UBS Group upped their price objective on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a report on Friday. HSBC upgraded shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 target price for the company in a research note on Wednesday, October 9th. Finally, Citigroup assumed coverage on shares of VNET Group in a report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price target on the stock. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $4.78.

VNET Group Stock Up 0.5 %

Shares of VNET stock opened at $3.88 on Friday. VNET Group has a 52-week low of $1.39 and a 52-week high of $4.50. The stock has a market cap of $998.71 million, a price-to-earnings ratio of -1.75 and a beta of -0.27. The firm’s 50-day moving average is $3.69 and its 200-day moving average is $2.73. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

Hedge Funds Weigh In On VNET Group

A number of hedge funds have recently bought and sold shares of VNET. Ballentine Partners LLC bought a new stake in VNET Group in the 2nd quarter valued at about $36,000. Wolverine Trading LLC acquired a new stake in shares of VNET Group in the third quarter valued at approximately $46,000. AXA S.A. acquired a new stake in shares of VNET Group in the second quarter valued at approximately $65,000. Walleye Capital LLC bought a new stake in shares of VNET Group in the third quarter valued at approximately $115,000. Finally, Blue Trust Inc. grew its position in VNET Group by 785.4% during the third quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock worth $172,000 after buying an additional 37,322 shares in the last quarter. 72.83% of the stock is owned by institutional investors.

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.