21Vianet Group (VNET) Rating Increased to Buy at Zacks Investment Research

21Vianet Group (NASDAQ:VNET) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $8.75 price target on the information technology services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 9.92% from the company’s previous close.

According to Zacks, “21Vianet Group, Inc. operates as a carrier-neutral Internet data center services provider in China. It provides hosting and related services, managed network services and cloud computing infrastructure. The Company’s infrastructure is interconnected with the networks operated by all of China’s telecommunications carriers, major non-carriers and local Internet service providers, or ISPs. 21Vianet Group, Incorporation. Its customers include Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises. 21Vianet Group, Inc. is headquartered in Beijing, the Peoples’ Republic of China. “

Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of 21Vianet Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 14th. ValuEngine raised shares of 21Vianet Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd.

VNET traded down $0.05 on Thursday, hitting $7.96. The company had a trading volume of 25,190 shares, compared to its average volume of 701,928. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.30 and a quick ratio of 2.39. 21Vianet Group has a 52-week low of $4.17 and a 52-week high of $9.59. The firm has a market capitalization of $863.72 million, a PE ratio of -33.17 and a beta of 1.73.

21Vianet Group (NASDAQ:VNET) last announced its earnings results on Monday, March 12th. The information technology services provider reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.18. 21Vianet Group had a negative net margin of 18.29% and a positive return on equity of 0.85%. The business had revenue of $117.70 million during the quarter. analysts expect that 21Vianet Group will post -0.04 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in VNET. Fox Run Management L.L.C. increased its position in shares of 21Vianet Group by 73.5% during the fourth quarter. Fox Run Management L.L.C. now owns 19,775 shares of the information technology services provider’s stock valued at $158,000 after acquiring an additional 8,375 shares in the last quarter. Royal Bank of Canada grew its position in 21Vianet Group by 76.5% in the 1st quarter. Royal Bank of Canada now owns 26,533 shares of the information technology services provider’s stock worth $183,000 after purchasing an additional 11,501 shares during the period. Goldman Sachs Group Inc. grew its position in 21Vianet Group by 125.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 28,269 shares of the information technology services provider’s stock worth $226,000 after purchasing an additional 15,716 shares during the period. Cubist Systematic Strategies LLC grew its position in 21Vianet Group by 226.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 34,586 shares of the information technology services provider’s stock worth $240,000 after purchasing an additional 23,991 shares during the period. Finally, Granite Point Capital Management L.P. grew its position in 21Vianet Group by 55.7% in the 4th quarter. Granite Point Capital Management L.P. now owns 33,486 shares of the information technology services provider’s stock worth $267,000 after purchasing an additional 11,986 shares during the period. 28.27% of the stock is owned by institutional investors.

About 21Vianet Group

21Vianet Group, Inc provides carrier-neutral Internet data center services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. It offers hosting and related services to house servers and networking equipment in its data centers, and connects them through a data transmission network; and other hosting related value-added services.

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