VNET Group (NASDAQ:VNET) Upgraded at The Goldman Sachs Group

VNET Group (NASDAQ:VNET) was upgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat.com reports. The firm presently has a $5.00 target price on the information technology services provider’s stock, up from their prior target price of $3.10. The Goldman Sachs Group’s price target indicates a potential upside of 28.87% from the company’s current price.

Several other equities research analysts also recently issued reports on VNET. Hsbc Global Res upgraded shares of VNET Group to a “strong-buy” rating in a research note on Wednesday, October 9th. HSBC upgraded shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price target on the stock in a research report on Wednesday, October 9th. StockNews.com raised shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. UBS Group lifted their target price on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Citigroup initiated coverage on VNET Group in a report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price target for the company. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $4.78.

VNET Group Stock Performance

Shares of NASDAQ:VNET opened at $3.88 on Friday. 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 business has a 50 day moving average price of $3.69 and a 200 day moving average price of $2.72. VNET Group has a twelve month low of $1.39 and a twelve month high of $4.50.

Institutional Trading of VNET Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wolverine Trading LLC acquired a new stake in shares of VNET Group in the 3rd quarter valued at $46,000. Ballentine Partners LLC bought a new position in VNET Group during the 2nd quarter valued at about $36,000. Walleye Capital LLC bought a new position in VNET Group during the 3rd quarter valued at about $115,000. AXA S.A. acquired a new position in VNET Group in the second quarter valued at about $65,000. Finally, Blue Trust Inc. grew its stake in VNET Group by 785.4% during the third quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock worth $172,000 after buying an additional 37,322 shares during the last quarter. 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.