GDS (NASDAQ:GDS) Given New $37.00 Price Target at TD Cowen

GDS (NASDAQ:GDS) had its target price cut by TD Cowen from $38.00 to $37.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on GDS. Macquarie set a $46.70 price objective on shares of GDS in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of GDS in a research report on Wednesday, October 8th. JMP Securities upped their price target on shares of GDS from $40.00 to $50.00 and gave the company a “market outperform” rating in a report on Thursday, August 21st. Bank of America lifted their price objective on GDS from $47.60 to $50.60 and gave the company a “buy” rating in a research note on Friday, August 22nd. Finally, Zacks Research cut GDS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.66.

GDS Stock Performance

GDS stock traded down $0.36 during midday trading on Thursday, reaching $29.93. The stock had a trading volume of 228,712 shares, compared to its average volume of 2,692,132. The firm has a fifty day simple moving average of $35.70 and a two-hundred day simple moving average of $32.79. GDS has a 52-week low of $16.92 and a 52-week high of $52.50. The company has a debt-to-equity ratio of 1.71, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market cap of $5.70 billion, a PE ratio of 8.87 and a beta of 0.37.

GDS (NASDAQ:GDS) last announced its quarterly earnings data on Wednesday, November 19th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.51. GDS had a return on equity of 1.40% and a net margin of 40.83%.The business had revenue of $405.28 million for the quarter, compared to analyst estimates of $402.81 million. During the same period in the prior year, the company earned ($0.14) earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. GDS has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that GDS will post -0.89 EPS for the current year.

Hedge Funds Weigh In On GDS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carrhae Capital LLP grew its position in shares of GDS by 295.4% in the third quarter. Carrhae Capital LLP now owns 1,648,278 shares of the company’s stock valued at $63,788,000 after purchasing an additional 1,231,375 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in GDS by 585.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,789 shares of the company’s stock valued at $69,000 after buying an additional 1,528 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in GDS in the 3rd quarter worth about $1,099,000. Alyeska Investment Group L.P. boosted its holdings in GDS by 62.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,892,103 shares of the company’s stock worth $73,224,000 after buying an additional 724,290 shares during the last quarter. Finally, Verition Fund Management LLC increased its stake in GDS by 184.4% during the 3rd quarter. Verition Fund Management LLC now owns 56,939 shares of the company’s stock worth $2,204,000 after buying an additional 36,918 shares in the last quarter. 33.71% of the stock is owned by hedge funds and other institutional investors.

GDS Company Profile

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services.