Royal Bank of Canada Reaffirms “Outperform” Rating for GDS (NASDAQ:GDS)

Royal Bank of Canada restated their outperform rating on shares of GDS (NASDAQ:GDS) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $26.00 target price on the stock.

A number of other equities analysts also recently weighed in on the company. Citizens Jmp raised GDS to a “strong-buy” rating in a research report on Monday. JMP Securities started coverage on shares of GDS in a report on Monday. They set an “outperform” rating and a $35.00 target price for the company. Finally, StockNews.com upgraded shares of GDS from a “sell” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $22.60.

GDS Stock Performance

Shares of GDS stock opened at $22.66 on Wednesday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of -7.43 and a beta of 0.13. GDS has a one year low of $5.01 and a one year high of $29.17. The stock’s 50-day moving average is $21.54 and its 200-day moving average is $18.90.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in GDS by 1,558.3% in the 3rd quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock valued at $51,000 after acquiring an additional 2,353 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of GDS in the third quarter valued at $64,000. Signaturefd LLC raised its position in shares of GDS by 17.3% in the third quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock valued at $168,000 after purchasing an additional 1,215 shares during the period. Brookfield Corp ON acquired a new stake in shares of GDS during the 3rd quarter worth about $171,000. Finally, Marshall Wace LLP bought a new stake in shares of GDS during the 2nd quarter worth about $203,000. 33.71% of the stock is currently owned by institutional investors and hedge funds.

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.