VNET Group, Inc. (NASDAQ:VNET) Given Consensus Rating of “Buy” by Brokerages

VNET Group, Inc. (NASDAQ:VNET) has earned a consensus recommendation of “Buy” from the seven analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $4.78.

VNET has been the topic of several research reports. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $3.10 to $5.00 in a report on Friday, November 29th. UBS Group upped their price target on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Finally, Nomura Securities raised VNET Group to a “strong-buy” rating in a research note on Friday, February 21st.

VNET Group Stock Down 5.0 %

VNET Group stock opened at $11.47 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $2.95 billion, a PE ratio of -5.17, a PEG ratio of 1.01 and a beta of 0.07. The firm’s fifty day moving average is $8.59 and its 200 day moving average is $5.28. VNET Group has a 12-month low of $1.42 and a 12-month high of $16.13.

Hedge Funds Weigh In On VNET Group

Several large investors have recently added to or reduced their stakes in VNET. Barclays PLC increased 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 purchasing an additional 4,939 shares in the last quarter. Headlands Technologies LLC increased its holdings in VNET Group by 5.7% during the 4th quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock worth $685,000 after purchasing an additional 7,737 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in VNET Group during the 4th quarter worth approximately $41,000. Catalina Capital Group LLC bought a new stake in VNET Group during the 4th quarter worth approximately $54,000. Finally, Wolverine Trading LLC bought a new stake in VNET Group during the 3rd quarter worth approximately $46,000. Institutional investors 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.