We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
VNET Group (VNET) Soars 14.7%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
VNET Group (VNET - Free Report) shares soared 14.7% in the last trading session to close at $11.23. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.4% loss over the past four weeks.
VNET Group benefits from rapid growth of Artificial Intelligence, strong demand from hyperscale cloud companies alongwith expansion of data center capacity, increasing demand for High-Density Computing and strong order pipeline.
This provider of carrier-neutral internet data center services is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of +500%. Revenues are expected to be $375.72 million, up 22.1% 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 VNET Group, the consensus EPS estimate for the quarter has been revised 25% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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.
VNET Group is a member of the Zacks Internet - Software industry. One other stock in the same industry, Kingsoft Cloud Holdings Limited Sponsored ADR (KC - Free Report) , finished the last trading session 1.3% lower at $14.09. KC has returned 6.3% over the past month.
Kingsoft Cloud's consensus EPS estimate for the upcoming report has changed -27.3% over the past month to -$0.07. Compared to the company's year-ago EPS, this represents a change of -75%. Kingsoft Cloud currently boasts a Zacks Rank of #3 (Hold).
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
VNET Group (VNET) Soars 14.7%: Is Further Upside Left in the Stock?
VNET Group (VNET - Free Report) shares soared 14.7% in the last trading session to close at $11.23. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.4% loss over the past four weeks.
VNET Group benefits from rapid growth of Artificial Intelligence, strong demand from hyperscale cloud companies alongwith expansion of data center capacity, increasing demand for High-Density Computing and strong order pipeline.
This provider of carrier-neutral internet data center services is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of +500%. Revenues are expected to be $375.72 million, up 22.1% 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 VNET Group, the consensus EPS estimate for the quarter has been revised 25% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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 >>>>
VNET Group is a member of the Zacks Internet - Software industry. One other stock in the same industry, Kingsoft Cloud Holdings Limited Sponsored ADR (KC - Free Report) , finished the last trading session 1.3% lower at $14.09. KC has returned 6.3% over the past month.
Kingsoft Cloud's consensus EPS estimate for the upcoming report has changed -27.3% over the past month to -$0.07. Compared to the company's year-ago EPS, this represents a change of -75%. Kingsoft Cloud currently boasts a Zacks Rank of #3 (Hold).