NetEase (NASDAQ:NTES) Raised to Strong-Buy at StockNews.com

NetEase (NASDAQ:NTES) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

Several other equities research analysts also recently weighed in on the stock. Citigroup boosted their target price on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Bank of America dropped their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Benchmark dropped their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Jefferies Financial Group lowered their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Barclays dropped their price objective on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Stock Up 0.4 %

Shares of NTES traded up $0.35 during midday trading on Thursday, hitting $86.56. The company had a trading volume of 724,421 shares, compared to its average volume of 1,739,098. The company’s 50 day moving average price is $85.44 and its 200 day moving average price is $88.31. The stock has a market cap of $55.59 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 3.16 and a beta of 0.57. NetEase has a 52 week low of $75.85 and a 52 week high of $115.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NetEase by 13,747.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock worth $585,227,000 after purchasing an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. grew its position in NetEase by 86.8% in the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock worth $242,092,000 after purchasing an additional 1,203,129 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in NetEase by 6.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after purchasing an additional 103,102 shares during the last quarter. Point72 Hong Kong Ltd grew its position in NetEase by 109.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after purchasing an additional 632,896 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in NetEase by 7.8% in the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock worth $107,130,000 after purchasing an additional 82,474 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

NetEase Company Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.