NetEase (NASDAQ:NTES) Upgraded to Strong-Buy by StockNews.com

NetEase (NASDAQ:NTES) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Friday.

NTES has been the topic of a number of other research reports. Barclays initiated coverage on shares of NetEase in a report on Thursday, June 13th. They set an “equal weight” rating and a $104.00 price target on the stock. Benchmark raised their price target on shares of NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a report on Friday, May 24th. Morgan Stanley reissued an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a report on Friday, July 5th. Finally, HSBC dropped their price objective on shares of NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.86.

NetEase Price Performance

NTES stock traded up $1.06 during trading on Friday, hitting $92.88. 1,001,484 shares of the stock traded hands, compared to its average volume of 1,720,949. NetEase has a 1 year low of $81.30 and a 1 year high of $118.89. The firm’s 50 day moving average is $94.64 and its two-hundred day moving average is $97.91. The stock has a market cap of $59.64 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.80 and a beta of 0.53.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, May 23rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. NetEase had a net margin of 28.75% and a return on equity of 24.19%. As a group, analysts anticipate that NetEase will post 6.68 EPS for the current fiscal year.

Institutional Investors Weigh In On NetEase

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Trust Co. NA raised its position in shares of NetEase by 418.9% during the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after buying an additional 222 shares during the last quarter. Mather Group LLC. raised its position in shares of NetEase by 1,415.0% during the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after buying an additional 283 shares during the last quarter. Chilton Capital Management LLC bought a new stake in shares of NetEase during the fourth quarter valued at approximately $37,000. USA Financial Formulas raised its position in shares of NetEase by 1,153.1% during the fourth quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock valued at $37,000 after buying an additional 369 shares during the last quarter. Finally, UMB Bank n.a. bought a new stake in shares of NetEase during the first quarter valued at approximately $50,000. Institutional investors own 11.07% of the company’s stock.

About NetEase

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.