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

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

Several brokerages recently weighed in on VNET. Hsbc Global Res upgraded VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. UBS Group boosted their target price on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research note on Friday, November 29th. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $3.10 to $5.00 in a research report on Friday, November 29th. Finally, HSBC upgraded shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective for the company in a research report on Wednesday, October 9th.

VNET Group Stock Down 0.7 %

VNET Group stock opened at $5.60 on Friday. The business’s 50-day simple moving average is $4.32 and its two-hundred day simple moving average is $3.36. 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 company has a market cap of $1.44 billion, a PE ratio of -2.52, a PEG ratio of 0.52 and a beta of -0.24. VNET Group has a fifty-two week low of $1.39 and a fifty-two week high of $6.00.

Hedge Funds Weigh In On VNET Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC grew its position in shares of VNET Group by 534.6% in the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock valued at $1,931,000 after buying an additional 343,140 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of VNET Group by 136,783.0% during the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock worth $558,000 after purchasing an additional 136,783 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of VNET Group during the third quarter worth about $519,000. Geode Capital Management LLC lifted its holdings in shares of VNET Group by 237.7% in the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock valued at $1,218,000 after purchasing an additional 210,124 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of VNET Group in the 3rd quarter valued at about $191,000. 72.83% of the stock is owned by institutional investors and hedge funds.

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.