Analysts Set VNET Group, Inc. (NASDAQ:VNET) Target Price at $4.78

Shares of VNET Group, Inc. (NASDAQ:VNET) have received an average rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $4.78.

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

VNET Group Price Performance

Shares of NASDAQ:VNET opened at $12.06 on Wednesday. The company has a market cap of $3.10 billion, a PE ratio of -5.43, a P/E/G ratio of 0.78 and a beta of -0.18. VNET Group has a fifty-two week low of $1.42 and a fifty-two week high of $13.04. The firm has a 50-day simple moving average of $6.35 and a 200 day simple moving average of $4.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

Institutional Trading of VNET Group

Several hedge funds have recently added to or reduced their stakes in the business. Triata Capital Ltd acquired a new position in shares of VNET Group during the fourth quarter valued at $47,377,000. D. E. Shaw & Co. Inc. bought a new position in VNET Group in the 4th quarter valued at about $7,183,000. Man Group plc acquired a new position in VNET Group during the 4th quarter valued at about $5,094,000. Bank of America Corp DE raised its position in shares of VNET Group by 610.2% during the 4th quarter. Bank of America Corp DE now owns 1,198,750 shares of the information technology services provider’s stock worth $5,682,000 after buying an additional 1,029,963 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of VNET Group by 622.8% in the 4th quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock worth $4,690,000 after acquiring an additional 852,519 shares during the period. 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.