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

NetEase (NASDAQ:NTES) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

NTES has been the subject of a number of other research reports. Benchmark lowered their price objective 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 target price on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Barclays dropped their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. Citigroup boosted their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Bank of America dropped their target price on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.29.

NetEase Price Performance

NetEase stock opened at $87.48 on Thursday. The company has a market cap of $56.18 billion, a PE ratio of 14.78, a P/E/G ratio of 3.20 and a beta of 0.57. NetEase has a 12 month low of $75.85 and a 12 month high of $114.50. The company has a fifty day moving average price of $85.61 and a two-hundred day moving average price of $88.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Guinness Asset Management LTD lifted its holdings in NetEase by 16.7% in the third quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock worth $8,111,000 after purchasing an additional 12,410 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of NetEase by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock worth $73,811,000 after acquiring an additional 306,500 shares during the period. Legacy Capital Group California Inc. acquired a new stake in shares of NetEase in the 2nd quarter worth approximately $267,000. Assetmark Inc. boosted its holdings in shares of NetEase by 27.3% in the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock valued at $3,597,000 after acquiring an additional 8,248 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of NetEase by 15.5% during the second quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company’s stock valued at $54,502,000 after acquiring an additional 76,446 shares during the period. 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.