GDS (NASDAQ:GDS) Price Target Cut to $55.00

GDS (NASDAQ:GDSGet Rating) had its target price lowered by Raymond James from $68.00 to $55.00 in a research report sent to investors on Thursday morning, The Fly reports.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of GDS from a sell rating to a hold rating in a research report on Tuesday, March 22nd. Morgan Stanley raised GDS from an equal weight rating to an overweight rating and set a $60.00 target price on the stock in a research report on Wednesday, February 9th. Credit Suisse Group dropped their price target on shares of GDS from $71.50 to $48.90 and set an outperform rating for the company in a research note on Monday, May 16th. Truist Financial decreased their price objective on shares of GDS from $115.00 to $85.00 and set a buy rating for the company in a report on Tuesday, February 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of GDS from a hold rating to a buy rating and set a $55.00 target price for the company in a research report on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of $59.32.

GDS stock opened at $28.95 on Thursday. The firm has a fifty day moving average of $33.74 and a 200-day moving average of $42.08. GDS has a 52-week low of $19.83 and a 52-week high of $81.81. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $5.41 billion, a P/E ratio of -21.13 and a beta of 1.07.

GDS (NASDAQ:GDSGet Rating) last posted its earnings results on Tuesday, March 22nd. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.15 billion. GDS had a negative return on equity of 6.25% and a negative net margin of 18.43%. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.26) earnings per share. On average, research analysts expect that GDS will post -1.6 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. raised its position in shares of GDS by 11.5% during the 3rd quarter. Alliancebernstein L.P. now owns 751,836 shares of the company’s stock worth $42,561,000 after buying an additional 77,585 shares in the last quarter. Rafferty Asset Management LLC acquired a new stake in GDS in the third quarter worth approximately $474,000. KBC Group NV boosted its stake in GDS by 26.1% during the 3rd quarter. KBC Group NV now owns 17,658 shares of the company’s stock valued at $1,000,000 after purchasing an additional 3,658 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of GDS by 21.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 9,248 shares of the company’s stock valued at $524,000 after purchasing an additional 1,658 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of GDS by 2.8% in the 3rd quarter. California Public Employees Retirement System now owns 249,801 shares of the company’s stock worth $14,141,000 after buying an additional 6,845 shares in the last quarter. Institutional investors and hedge funds own 53.92% of the company’s stock.

GDS Company Profile (Get Rating)

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation, managed hosting, and managed cloud services, as well as consulting services to the cloud, internet and banking industries. The company serves cloud service providers, Internet companies, financial institutions, telecommunications and IT service providers, and large domestic private sector and multinational corporations.

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