We recently compiled a list of the 10 Companies That Performed Well Last Week. In this article, we are going to take a look at where GDS Holdings Limited (NASDAQ:GDS) stands against the other stocks.

The stock market fell heavily into the red territory on Friday as investors sold off positions to mitigate risks from a series of macroeconomic factors.

The Dow Jones declined by 1.69 percent, the S&P dropped by 1.71 percent, and the tech-heavy Nasdaq nosedived by 2.20 percent.

Despite the broader market downturn, ten companies gained momentum, recording price growths on a week-on-week basis.

We have listed 10 companies that performed well last week. Note that shares performances were based on closing prices last Friday, February 21, as against their prices on February 14, or a week earlier.

To come up with last week's advancers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A top level executive looking out of a skyscraper window, symbolizing the strategic decisions taken by the company.

GDS Holdings Limited (NASDAQ:GDS)

GDS Holdings Limited (NASDAQ:GDS) increased its share prices by 14 percent week-on-week to end Friday’s trading at $44.76 versus the $39.14 finish on February 14.

Friday’s price, however, snapped a 10-day winning streak as investors began to pocket gains.

Overall, GDS Holdings Limited (NASDAQ:GDS)’s rally was in line with the recent surge in various Chinese firms’ share prices, which have attracted investor funds from other assets amid higher growth hopes, thanks to the booming Chinese AI.

Earlier this month, City analyst Louis Tsang raised GDS Holdings Limited (NASDAQ:GDS)’s price target to $51.2 from $25.1 previously, while maintaining a “buy” rating. The rating was based on optimism toward growing AI data center-related spending from China cloud service providers.

For this year, GDS Holdings Limited (NASDAQ:GDS) expects revenues to settle anywhere between $9.9 billion to $10.15 billion—an outlook that was more bullish than the average analyst estimate of $9.95 billion.

Overall GDS ranks 6th on our list of the companies that performed well last week. While we acknowledge the potential of GDS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than GDS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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Disclosure: None. This article is originally published at Insider Monkey.