VNET

21Vianet Group Inc - ADR

TMT


Presented:10/19/2020
Price:$23.74
Cap:$2.51B
Current Price:$3.34
Cap:$0.86B

Presented

Date10/19/2020
Price$23.74
Market Cap$2.51B
Ent Value$3.48B
P/E RatioN/A
Book Value$3.99
Div Yield0%
Shares O/S105.56M
Ave Daily Vol1,465,175
Short IntN/A

Current

Price$3.34
Market Cap$0.86B
21Vianet Group, Inc. engages in the provision of carrier-neutral internet data center services. It offers hosting and related services which includes managed hosting services, interconnectivity services, and value-added services. The company was founded by Sheng Chen and Jun Zhang in 1999 and is headquartered in Beijing, China.

Publicly traded companies mentioned herein: 21Vianet Group Inc (VNET), Alibaba Group Holdings Ltd (BABA), Blackstone Group Inc/The (BX), GDS Holdings Ltd (GDS), Goldman Sachs Group Inc/The (GS), Tencent Holdings Inc (700 HK)

Highlights

The presenter is long shares of 21Vianet Group Inc (VNET), the Chinese data center service provider currently trading at ~$24 per share. Despite VNET’s strong position in the market and more than a decade of operations in China, it is underfollowed relative to the market leader GDS Holdings Ltd (GDS). In the presenter’s opinion, the company does not receive the credit it deserves for its business model shift and secular tailwinds. As the company continues to execute on its opportunity over the next year, he sees upside to revenue, EBITDA and trading multiple, and multiple, leading him to a price target of ~$55 per share by the end of 2021.

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Idea Discussion

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