Royal Bank of Canada Reaffirms “Outperform” Rating for GDS (NASDAQ:GDS)

Royal Bank of Canada reissued their outperform rating on shares of GDS (NASDAQ:GDS) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $26.00 target price on the stock.

Other equities analysts have also recently issued research reports about the stock. Bank of America increased their price objective on shares of GDS from $12.40 to $22.40 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Nomura Securities upgraded shares of GDS to a “strong-buy” rating in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.47.

GDS Price Performance

NASDAQ:GDS opened at $20.73 on Thursday. The stock has a market cap of $3.95 billion, a P/E ratio of -6.80 and a beta of 0.18. GDS has a one year low of $5.01 and a one year high of $24.74. The company has a fifty day moving average price of $21.17 and a 200 day moving average price of $15.47. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19.

Institutional Investors Weigh In On GDS

Several large investors have recently made changes to their positions in the company. Bamco Inc. NY grew its holdings in shares of GDS by 128.6% in the 3rd quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock worth $123,227,000 after purchasing an additional 3,397,592 shares during the last quarter. Baupost Group LLC MA grew its holdings in shares of GDS by 63.5% in the 2nd quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after purchasing an additional 1,649,952 shares during the last quarter. Sachem Head Capital Management LP grew its holdings in shares of GDS by 161.6% in the 3rd quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock worth $57,630,000 after purchasing an additional 1,745,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of GDS in the 3rd quarter worth about $27,212,000. Finally, Portolan Capital Management LLC bought a new stake in shares of GDS in the 3rd quarter worth about $26,572,000. Institutional investors own 33.71% of the company’s stock.

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.