In yesterday’s Wall Street session, VNET Group Inc. (NASDAQ:VNET) shares traded at $2.57, down -7.89% from the previous session.
9 analysts cover VNET Group Inc. (NASDAQ:VNET), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $57.96 and a low of $20.66, we find $33.12. Given the previous closing price of $2.79, this indicates a potential upside of 1087.1 percent. VNET stock price is now -10.59% away from the 50-day moving average and -38.87% away from the 200-day moving average. The market capitalization of the company currently stands at $380.05M.
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The stock has received a hold rating from 3 analysts and a buy rating from 5. Brokers who have rated the stock have averaged $35.98 as their price target over the next twelve months.
A total of 13.33% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in VNET stock. A new stake in VNET Group Inc. shares was purchased by ANSON FUNDS MANAGEMENT LP during the first quarter worth $9,712,000. ASPEX MANAGEMENT (HK) LTD invested $7,619,000 in shares of VNET during the first quarter. In the first quarter, MARSHALL WACE, LLP acquired a new stake in VNET Group Inc. valued at approximately $2,702,000. DAVIDSON KEMPNER PARTNERS acquired a new stake in VNET for approximately $1,092,000. JEFFERIES FINANCIAL GROUP INC. purchased a new stake in VNET valued at around $1,011,000 in the second quarter. In total, there are 140 active investors with 76.20% ownership of the company’s stock.
On Thursday morning VNET Group Inc. (NASDAQ: VNET) stock kicked off with the opening price of $2.8000. During the past 12 months, VNET Group Inc. has had a low of $2.53 and a high of $6.83. As of last week, the company has a debt-to-equity ratio of 1.74, a current ratio of 0.70, and a quick ratio of 0.70. The fifty day moving average price for VNET is $2.8656 and a two-hundred day moving average price translates $4.1911 for the stock.
The latest earnings results from VNET Group Inc. (NASDAQ: VNET) was released for Mar, 2023. According to the Information Technology Services Company, earnings per share came in at $0.06, beating analysts’ expectations of -$0.09 by 0.15. This compares to $0.09 EPS in the same period last year. The net profit margin was -10.90% and return on equity was -11.60% for VNET. The company reported revenue of $262.94 million for the quarter, compared to $259.57 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.3 percent. For the current quarter, analysts expect VNET to generate $263.87M in revenue.
VNET Group Inc.(VNET) 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. The company also provides server administration services, such as operating system support and assistance with updates, server monitoring, server backup and restoration, server security evaluation, firewall services, and disaster recovery services. It serves information technology and cloud services, communications and social networking, gaming and entertainment, e-commerce, automobile, financial services, and blue-chip and small-to-mid-sized enterprises; government agencies; individuals; and telecommunication carriers. The company was formerly known as 21Vianet Group, Inc. and changed its name to VNET Group, Inc. in October 2021. VNET Group, Inc. was founded in 1999 and is headquartered in Beijing, the People’s Republic of China.
