21Vianet Group Inc (VNET) is Downgraded by JP Morgan to Underweight, Lowers Price Target to $ 5.60

21Vianet Group Inc (VNET) was Downgraded by JP Morgan to ” Underweight” while Lowering the Price Target of the company shares to $ 5.60 from a previous price target of $21 . Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on Aug 17, 2016.

Many Wall Street Analysts have commented on 21Vianet Group Inc. 21Vianet Group Inc was Resumed by Morgan Stanley to “Underweight” on Jul 8, 2016.

On the company’s financial health, 21Vianet Group Inc reported $-0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Aug 16, 2016. Analyst had a consensus of $-0.09. The company had revenue of $137.10 million for the quarter, compared to analysts expectations of $129.62 million. The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.02 EPS.

21Vianet Group Inc opened for trading at $10.42 and hit $10.91 on the upside on Monday, eventually ending the session at $10.91, with a gain of 6.23% or 0.64 points. The heightened volatility saw the trading volume jump to 25,62,066 shares. Company has a market cap of $953 M.

21Vianet Group Inc. is a carrier-neutral Internet data center services provider in China. The Company hosts its customers’ servers and networking equipment and provides interconnectivity to improve the performance availability and security of their Internet infrastructure. The Company also provides managed network services to enable customers to deliver data across the Internet in a faster and reliable manner through its data transmission network and smart routing technology. The Company provides complementary Internet infrastructure services such as content delivery network (CDN) services virtual private network (VPN) services and last-mile wired broadband services to improve the security speed and quality of data transmission in China. It offers public cloud services private cloud and hybrid services. In addition the Company also offers container-based data center service.

21Vianet Group Inc

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