why Chindata Group Holdings Limited [CD] is a Good Choice for Investors After New Price Target of $11.08

Chindata Group Holdings Limited [NASDAQ: CD] gained 1.63% or 0.14 points to close at $8.74 with a heavy trading volume of 3985865 shares. The company report on September 6, 2022 that Chindata Group announced 2022 Q2 financial report: delivering upbeat revenue and adjusted EBITDA results for eight straight quarters.


Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now. .

Sponsored


On August 25, Chindata Group Holdings Limited (“Chindata Group” or the “Company”) (Nasdaq: CD), a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, announced its unaudited financial results for the second quarter and half year 2022 ended June 30, 2022. Chindata Group firmly grasped the development opportunities of the digital economy and China’s “East Data West Computation” policy, and continued to maintain a strong growth in the second quarter. Total IT capacity of the data center increased to 776MW; revenue in the second quarter of 2022 increased by 51.2% year over year (“YoY”) to RMB 1,038.1 million; net income in the second quarter increased by 206.3% YoY to RMB199.6 million, with a margin of 19.2%. Adjusted EBITDA in the second quarter of 2022 increased by 60.8% YoY to RMB544.3 million, with a margin of 52.4%. The Company has been delivering upbeat revenue and adjusted EBITDA results for eight straight quarters.

For the first half of 2022, Chindata Group achieved total revenue of 1,958.7 million, representing a year-on-year growth of 47.3 %. Adjusted EBITDA increased by 60.7% to RMB1,038.8 million; net income increased by 138.5% to RMB294.1 million.

It opened the trading session at $8.50, the shares rose to $9.08 and dropped to $8.40, the range by which the price of stock traded the whole day. The daily chart for CD points out that the company has recorded 121.83% gains over the past six months. However, it is still -133.07% lower than its most recent low trading price.

If we look at the average trading volume of 2.09M shares, CD reached to a volume of 3985865 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Chindata Group Holdings Limited [CD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CD shares is $11.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CD stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Chindata Group Holdings Limited shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 07, 2022. The new note on the price target was released on December 13, 2021, representing the official price target for Chindata Group Holdings Limited stock. Previously, the target price had yet another raise to $18, while JP Morgan analysts kept a Overweight rating on CD stock.

The Average True Range (ATR) for Chindata Group Holdings Limited is set at 0.44, with the Price to Sales ratio for CD stock in the period of the last 12 months amounting to 6.36. The Price to Book ratio for the last quarter was 2.14.

Trading performance analysis for CD stock

Chindata Group Holdings Limited [CD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.48. With this latest performance, CD shares gained by 17.95% in over the last four-week period, additionally plugging by 121.83% over the last 6 months – not to mention a drop of -22.31% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CD stock in for the last two-week period is set at 65.72, with the RSI for the last a single of trading hit 69.16, and the three-weeks RSI is set at 62.90 for Chindata Group Holdings Limited [CD]. The present Moving Average for the last 50 days of trading for this stock 7.53, while it was recorded at 8.37 for the last single week of trading, and 6.53 for the last 200 days.

Chindata Group Holdings Limited [CD]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Chindata Group Holdings Limited [CD] shares currently have an operating margin of +23.67 and a Gross Margin at +40.60. Chindata Group Holdings Limited’s Net Margin is presently recorded at +11.09.

Return on Equity for this stock inclined to 3.19, with Return on Assets sitting at 1.81.

Chindata Group Holdings Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.50.

An analysis of insider ownership at Chindata Group Holdings Limited [CD]

There are presently around $735 million, or 45.40% of CD stock, in the hands of institutional investors. The top three institutional holders of CD stocks are: CANADA PENSION PLAN INVESTMENT BOARD with ownership of 11,174,309, which is approximately 1.044% of the company’s market cap and around 0.64% of the total institutional ownership; SYLEBRA CAPITAL LTD, holding 7,208,216 shares of the stock with an approximate value of $63.0 million in CD stocks shares; and KRANE FUNDS ADVISORS LLC, currently with $56.97 million in CD stock with ownership of nearly 28.302% of the company’s market capitalization.

Positions in Chindata Group Holdings Limited stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 65 institutional holders increased their position in Chindata Group Holdings Limited [NASDAQ:CD] by around 28,025,379 shares. Additionally, 64 investors decreased positions by around 18,381,396 shares, while 12 investors held positions by with 37,645,298 shares. The mentioned changes placed institutional holdings at 84,052,073 shares, according to the latest SEC report filing. CD stock had 38 new institutional investments in for a total of 17,977,515 shares, while 32 institutional investors sold positions of 2,522,454 shares during the same period.

LEAVE A REPLY

Please enter your comment!
Please enter your name here