Brokerages Set GDS Holdings Limited (NASDAQ:GDS) Price Target at $18.29

Shares of GDS Holdings Limited (NASDAQ:GDS) have earned an average rating of “Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $18.29.

Several analysts have recently commented on the stock. Bank of America lifted their price target on shares of GDS from $12.40 to $22.40 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Nomura Securities upgraded GDS to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada increased their price target on GDS from $14.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, October 14th.

GDS Trading Up 1.9 %

Shares of GDS stock opened at $21.57 on Friday. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.39 and a quick ratio of 1.39. The stock’s 50 day simple moving average is $18.02 and its 200-day simple moving average is $12.24. The stock has a market cap of $4.11 billion, a P/E ratio of -6.72 and a beta of 0.24. GDS has a 1-year low of $5.01 and a 1-year high of $23.81.

GDS (NASDAQ:GDS) last released its quarterly earnings data on Wednesday, August 21st. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.07. GDS had a negative return on equity of 9.10% and a negative net margin of 39.96%. The company had revenue of $388.92 million for the quarter, compared to analyst estimates of $384.14 million. Analysts predict that GDS will post -1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On GDS

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its holdings in GDS by 0.4% in the first quarter. Canada Pension Plan Investment Board now owns 9,713,325 shares of the company’s stock valued at $64,594,000 after buying an additional 33,978 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of GDS by 16.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,404,486 shares of the company’s stock valued at $49,289,000 after acquiring an additional 773,378 shares during the last quarter. Baupost Group LLC MA raised its position in shares of GDS by 63.5% during the 2nd quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after acquiring an additional 1,649,952 shares in the last quarter. Farallon Capital Management LLC lifted its stake in GDS by 72.7% during the second quarter. Farallon Capital Management LLC now owns 1,226,133 shares of the company’s stock worth $11,391,000 after purchasing an additional 516,133 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in GDS by 17.3% in the second quarter. Pacer Advisors Inc. now owns 849,568 shares of the company’s stock valued at $7,892,000 after purchasing an additional 125,395 shares in the last quarter. 33.71% of the stock is 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.