Brokerages Set VNET Group, Inc. (NASDAQ:VNET) PT at $4.78

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

Several equities research analysts have weighed in on the company. UBS Group upped their target price on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a report on Friday, November 29th. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $3.10 to $5.00 in a research report on Friday, November 29th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its position 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 valued at $34,000 after buying an additional 4,939 shares in the last quarter. Catalina Capital Group LLC acquired a new position in shares of VNET Group in the fourth quarter valued at about $54,000. Wolverine Trading LLC acquired a new position in shares of VNET Group in the third quarter valued at about $46,000. Hsbc Holdings PLC purchased a new stake in shares of VNET Group in the fourth quarter worth about $66,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of VNET Group in the fourth quarter worth about $80,000. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Price Performance

Shares of VNET Group stock opened at $11.54 on Wednesday. The stock has a 50 day moving average price of $6.04 and a 200-day moving average price of $4.15. VNET Group has a one year low of $1.42 and a one year high of $13.04. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -5.20, a price-to-earnings-growth ratio of 0.78 and a beta of -0.18.

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.