GDS (NASDAQ:GDS) Issues Quarterly Earnings Results

GDS (NASDAQ:GDS) issued its quarterly earnings results on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.07, Briefing.com reports. GDS had a negative net margin of 39.96% and a negative return on equity of 9.10%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the business earned ($0.32) EPS. The company’s revenue was up 17.7% compared to the same quarter last year. GDS updated its FY 2024 guidance to EPS.

GDS Stock Performance

Shares of GDS stock traded down $2.99 during trading on Tuesday, hitting $20.50. 1,944,285 shares of the stock were exchanged, compared to its average volume of 1,591,214. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -6.43 and a beta of 0.23. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.30. The company has a fifty day moving average price of $20.91 and a 200-day moving average price of $14.46. GDS has a 1-year low of $5.01 and a 1-year high of $24.74.

Analyst Ratings Changes

Several brokerages have issued reports on GDS. Royal Bank of Canada lifted their price target on shares of GDS from $14.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Nomura Securities upgraded shares of GDS to a “strong-buy” rating in a research note on Monday, August 26th. Finally, Bank of America lifted their price target on shares of GDS from $12.40 to $22.40 and gave the company a “buy” rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GDS currently has a consensus rating of “Moderate Buy” and an average price target of $18.29.

About GDS

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services.