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21Vianet (VNET) Surges 13.1%: Is This an Indication of Further Gains?
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21Vianet (VNET - Free Report) shares soared 13.1% in the last trading session to close at $6.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.6% loss over the past four weeks.
The upswing in share price is attributed to favorable government policies which continue to provide positive traction to the industry development. The positive government policies have helped the company to deploy data centers in Beijing-Tianjin-Hebei region, Yangtze River Delta, Greater Bay Area and Chengdu-Chongqing Economic circle. This is expected to help the company driving top-line growth.
This provider of carrier-neutral internet data center services is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $276 million, up 30.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For 21Vianet, the consensus EPS estimate for the quarter has been revised 20% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on VNET going forward to see if this recent jump can turn into more strength down the road.
21Vianet is part of the Zacks Internet - Services industry. Uber Technologies (UBER - Free Report) , another stock in the same industry, closed the last trading session 1.5% higher at $36.51. UBER has returned 20.6% in the past month.
For Uber, the consensus EPS estimate for the upcoming report has changed -0.5% over the past month to -$0.28. This represents a change of +33.3% from what the company reported a year ago. Uber currently has a Zacks Rank of #3 (Hold).
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21Vianet (VNET) Surges 13.1%: Is This an Indication of Further Gains?
21Vianet (VNET - Free Report) shares soared 13.1% in the last trading session to close at $6.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.6% loss over the past four weeks.
The upswing in share price is attributed to favorable government policies which continue to provide positive traction to the industry development. The positive government policies have helped the company to deploy data centers in Beijing-Tianjin-Hebei region, Yangtze River Delta, Greater Bay Area and Chengdu-Chongqing Economic circle. This is expected to help the company driving top-line growth.
This provider of carrier-neutral internet data center services is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $276 million, up 30.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For 21Vianet, the consensus EPS estimate for the quarter has been revised 20% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on VNET going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
21Vianet is part of the Zacks Internet - Services industry. Uber Technologies (UBER - Free Report) , another stock in the same industry, closed the last trading session 1.5% higher at $36.51. UBER has returned 20.6% in the past month.
For Uber, the consensus EPS estimate for the upcoming report has changed -0.5% over the past month to -$0.28. This represents a change of +33.3% from what the company reported a year ago. Uber currently has a Zacks Rank of #3 (Hold).