VNET GroupVNET Market cap $1.12B
About: VNET started as AsiaCloud in 1999 and moved to the data center business with its first self-developed data center opening in 2010. The firm listed (as 21Vianet) on the Nasdaq in April 2011, subsequently changing its name to VNET Group in 2021. It originally focused on providing data center services such as colocation and cloud services to retail clients in China, but added hyperscale customers in 2019 and now counts large Chinese hyperscalers such as Alibaba Cloud, Tencent Cloud, and Huawei Cloud as customers. At the end of June 2024, it had 48,516 self-built retail cabinets with the majority in Beijing, Shanghai, and the Greater Bay area. It also had 332 MW of wholesale capacity in service with a further 279 MW under construction and a further 528 MW held for future development.
Employees: 3,038
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
388% more call options, than puts
Call options by funds: $610K | Put options by funds: $125K
33% more capital invested
Capital invested by funds: $115M [Q1] → $153M (+$38.3M) [Q2]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q1] → 1 (+0) [Q2]
3.72% less ownership
Funds ownership: 8.44% [Q1] → 4.71% (-3.72%) [Q2]
6% less funds holding
Funds holding: 79 [Q1] → 74 (-5) [Q2]
20% less repeat investments, than reductions
Existing positions increased: 20 | Existing positions reduced: 25
38% less first-time investments, than exits
New positions opened: 8 | Existing positions closed: 13
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
1 analyst rating
Citigroup Louis Tsang 100% 1-year accuracy 1 / 1 met price target | 5%downside $4 | Buy Initiated | 4 Sept 2024 |