Chindata Group (NASDAQ:CD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The firm presently has a $11.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.40% from the stock’s previous close.
According to Zacks, “Chindata Group Holdings Limited provides carrier-neutral hyperscale data center solution. The company focuses on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry. It operates principally in China, India and Southeast Asia markets. Chindata Group Holdings Limited is based in BEIJING. “
Separately, JPMorgan Chase & Co. began coverage on Chindata Group in a research report on Wednesday, August 18th. They set an “overweight” rating and a $18.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $18.35.
Chindata Group (NASDAQ:CD) last released its earnings results on Tuesday, November 23rd. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.25. Chindata Group had a negative return on equity of 0.52% and a negative net margin of 3.01%. During the same quarter in the prior year, the firm earned ($0.08) EPS. On average, equities research analysts anticipate that Chindata Group will post 0.04 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of CD. US Bancorp DE acquired a new position in Chindata Group in the third quarter worth about $26,000. Macquarie Group Ltd. bought a new position in Chindata Group during the third quarter worth $45,000. DekaBank Deutsche Girozentrale acquired a new position in Chindata Group in the second quarter worth $83,000. Voya Investment Management LLC bought a new stake in Chindata Group during the third quarter valued at $89,000. Finally, Balyasny Asset Management LLC acquired a new stake in shares of Chindata Group during the third quarter worth $94,000. 14.40% of the stock is owned by hedge funds and other institutional investors.
About Chindata Group
Chindata Group Holdings Limited provides carrier-neutral hyper scale data center solutions in China, India, and Southeast Asia. It offers artificial intelligence, cloud computing, smart cities and homes, online entertainment, and other on-demand services. The company also provides internet data center colocation and rental services; and technical and consulting services.
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