Analyst Remains Buy on VNET Group as Its Shares Soar Over 67% In One Year

VNET Group, Inc. (NASDAQ:VNET) is one of the Top 15 Chinese Companies on US Exchanges.

VNET Group, Inc. (NASDAQ:VNET) shares have soared over 67% over the last one year, as of January 28. Out of 12 analysts covering VNET, 11 rate the stock as a Buy. VNET has a median price target of $15.21, implying 34.50% upside.

On January 9, BofA reaffirmed its Buy rating on VNET Group, Inc. (NASDAQ:VNET). Daley Li from BofA kept the price target at $15.10, which implies an upside of almost 34%.

Year-to-date, VNET shares have returned over 33% as of January 28. Over the past five days, it has surged by more than 12%. These price movements indicate a strong ongoing interest in data center and cloud infrastructure plays. Investors are keeping an eye on companies that play a vital role in digital services and are enacted with data center services. VNET Group, Inc. (NASDAQ:VNET) remains a key part of this matter amid the bullish sentiment around digital infrastructure.

For its next quarter earnings in the second week of March, Wall Street expects VNET to post an average earnings per share of ¥0.18, up from ¥0.04 a year ago. The average estimate for the revenue is around ¥2.63 billion, indicating growth of over 17%.

VNET Group, Inc. (NASDAQ:VNET) is an investment holding company engaged in hosting and related services in China. The company’s hosting services range from managed retail services, including colocation, which provides dedicated data center space to house customers’ servers and networking equipment.

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Disclosure: None. This article is originally published at Insider Monkey.