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GDS Holdings (GDS) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Chinese tech stocks continued to be a bright spot in the stock market as the tech-heavy Nasdaq Composite fell slightly. Chinese officials have signaled they are open to supporting the sector as it becomes increasingly important for the struggling Chinese economy.
GDS Holdings (GDS 4.62%) hasn't yet scheduled its upcoming quarterly earnings release. Despite that, over the past few days several analysts have published bullish updates on the Chinese data center operator in anticipation of the event.
After news broke of a potential initial public offering (IPO) of a key business unit, investors piled into GDS Holdings (GDS 17.23%) on Tuesday. That rush powered the Chinese data center specialist's stock to an over 17% gain on the day, crushing the marginal gain of the bellwether S&P 500 (^GSPC 0.03%).
News of a significant price-target boost from an analyst tracking GDS Holdings (GDS 7.20%) was the main catalyst behind the stock's jump on Monday. It rose by more than 7% that day on the move, a far greater rise than the 0.6% posted by the bellwether S&P 500 index.
GDS Holdings (GDS) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
China stocks and China-related stocks fell back to earth after a huge run-up over the past month.
Analysts are now conflicted on Chinese stocks after an epic run over the past few weeks.
GDS Holdings Limited anticipates that its EBITDA growth can accelerate from +4.7% in Q1 and +6.2% in Q2 to +9.2% for the full year. GDS Holdings' international segment saw its revenue jump by +690.2% YoY in Q2 2024, and the company expects to raise its full-year 2024 capital expenditure guidance for its international business. The company's net debt-to-EBITDA metric declined from 7.7 times for Q1 2024 to 7.2 times in Q2 2024, and it has plans to further reduce its financial leverage.
GDS Holdings (NASDAQ: GDS ) just reported results for the second quarter of 2024. GDS Holdings reported earnings per share of -18 cents.