GDS (NASDAQ:GDS) Raised to Strong-Buy at Zacks Research

by · The Markets Daily

GDS (NASDAQ:GDS – Get Free Report) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also weighed in on GDS. TD Cowen decreased their price objective on GDS from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Morgan Stanley restated an “overweight” rating and issued a $64.00 price objective on shares of GDS in a report on Tuesday, March 17th. Weiss Ratings upgraded GDS from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Piper Sandler set a $36.00 price objective on GDS in a report on Thursday, May 21st. Finally, Wall Street Zen upgraded GDS from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, GDS currently has an average rating of “Buy” and an average price target of $48.04.

Get Our Latest Research Report on GDS

GDS Trading Down 0.9%

Shares of NASDAQ:GDS opened at $32.96 on Tuesday. GDS has a 1 year low of $26.50 and a 1 year high of $48.61. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 20.99 and a beta of 0.39. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.87 and a quick ratio of 1.87. The business’s 50 day moving average price is $39.55 and its 200-day moving average price is $40.25.

GDS (NASDAQ:GDS – Get Free Report) last announced its earnings results on Friday, May 15th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $1.56. GDS had a return on equity of 15.62% and a net margin of 23.83%.The firm had revenue of $426.13 million for the quarter, compared to analyst estimates of $436.44 million. During the same quarter last year, the firm posted $3.47 EPS. The business’s revenue was up 23.7% on a year-over-year basis. On average, equities research analysts forecast that GDS will post 5.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GDS news, VP Yixin Qian sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $35.25, for a total value of $352,500.00. Following the transaction, the vice president owned 66,865 shares in the company, valued at approximately $2,356,991.25. This trade represents a 13.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Judy Qing Ye sold 37,394 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $36.21, for a total value of $1,354,036.74. The disclosure for this sale is available in the SEC filing. Company insiders own 7.99% of the company’s stock.

Institutional Trading of GDS

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC increased its stake in shares of GDS by 6.2% in the 1st quarter. Parallel Advisors LLC now owns 7,330 shares of the company’s stock worth $295,000 after acquiring an additional 429 shares during the last quarter. Bank of America Corp DE increased its stake in shares of GDS by 25.5% in the 1st quarter. Bank of America Corp DE now owns 2,177,301 shares of the company’s stock worth $87,723,000 after acquiring an additional 442,414 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of GDS by 73.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,160 shares of the company’s stock worth $87,000 after acquiring an additional 915 shares during the last quarter. Electron Capital Partners LLC increased its stake in shares of GDS by 640.6% in the 1st quarter. Electron Capital Partners LLC now owns 780,979 shares of the company’s stock worth $31,466,000 after acquiring an additional 675,531 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of GDS in the 1st quarter worth $11,988,000. 33.71% of the stock is owned by institutional investors and hedge funds.

About GDS

(Get Free Report)

GDS Holdings Limited, founded in 2001 and headquartered in Shanghai, is a leading network-neutral data center services provider in China. The company operates a portfolio of state-of-the-art data center facilities designed to support the mission-critical IT infrastructure of cloud service providers, internet enterprises, financial institutions, and government entities. GDS was among the first Chinese providers to offer high-density colocation solutions, catering to customers with demanding computing and storage requirements.

GDS specializes in delivering scalable colocation, cross-connect, and interconnection services within its facilities, enabling clients to establish high-speed, low-latency connections to major cloud platforms and internet exchange points.

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