Barclays Q2 Review on 21Vianet (VNET); Low End of Guidance
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Price: $9.30 --0%
Rating Summary:
5 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
5 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade VNET Now!
Barclays maintains an 'Equalweight' on 21Vianet (NASDAQ: VNET) price target of $15.00.
Analyst, James M. Ratcliffe, said, "VNET's results were at the low end of guidance and slightly below our forecasts, as managed services performance was offset by somewhat slower hosting growth. Managed services revenues (up 88.1% YoY, 59.0% ex-Gehua) continue to benefit from strong network demand, even as hosting revenues were below expectations (3% below forecast), driven by lower average cabinet count (as cabinet capacity came in towards the end of the quarter)."
Q3 guidance was at the midpoint of the range.
For an analyst ratings summary and ratings history on 21Vianet click here. For more ratings news on 21Vianet click here.
Shares of 21Vianet closed at $10.00 yesterday, with a 52 week range of $8.31-$13.75.
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Analyst, James M. Ratcliffe, said, "VNET's results were at the low end of guidance and slightly below our forecasts, as managed services performance was offset by somewhat slower hosting growth. Managed services revenues (up 88.1% YoY, 59.0% ex-Gehua) continue to benefit from strong network demand, even as hosting revenues were below expectations (3% below forecast), driven by lower average cabinet count (as cabinet capacity came in towards the end of the quarter)."
Q3 guidance was at the midpoint of the range.
For an analyst ratings summary and ratings history on 21Vianet click here. For more ratings news on 21Vianet click here.
Shares of 21Vianet closed at $10.00 yesterday, with a 52 week range of $8.31-$13.75.
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