Bank of America Increases GDS (NASDAQ:GDS) Price Target to $22.40

GDS (NASDAQ:GDS) had its price objective hoisted by Bank of America from $12.40 to $22.40 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Royal Bank of Canada raised GDS from a sector perform rating to an outperform rating and lifted their price target for the stock from $13.00 to $14.00 in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $15.29.

GDS Stock Performance

GDS stock opened at $17.03 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.25. GDS has a 1-year low of $5.01 and a 1-year high of $17.36. The firm has a market capitalization of $3.25 billion, a PE ratio of -5.31 and a beta of 0.20. The firm’s 50 day simple moving average is $11.94 and its 200 day simple moving average is $9.14.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Baupost Group LLC MA bought a new position in GDS in the first quarter worth about $17,290,000. Goldman Sachs Group Inc. grew its position in shares of GDS by 16.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,404,486 shares of the company’s stock worth $49,289,000 after buying an additional 773,378 shares during the period. Farallon Capital Management LLC purchased a new stake in shares of GDS in the 1st quarter worth about $4,722,000. Wellington Management Group LLP boosted its stake in GDS by 258.1% in the 4th quarter. Wellington Management Group LLP now owns 608,625 shares of the company’s stock worth $5,551,000 after purchasing an additional 438,661 shares in the last quarter. Finally, Bamco Inc. NY bought a new position in GDS in the 1st quarter worth about $2,896,000. 33.71% of the stock is currently owned by institutional investors.

About GDS

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.