Zacks Investment Research upgraded shares of NetEase (NASDAQ:NTES) from a hold rating to a strong-buy rating in a research note published on Wednesday. They currently have $249.00 target price on the technology company’s stock.
According to Zacks, “NetEase, Inc. is an Internet technology company engaged in the development of applications, services and other technologies for the Internet in China. It provides online gaming services that include in-house developed massively multi-player online role-playing games and licensed titles. NetEase also provides online advertising, community services, entertainment content, free e-mail services and micro-blogging services. The Company also offers wireless value-added services such as news and information content, matchmaking services, music and photos from the web that are sent over SMS, MMS, WAP, IVR and Color Ring-back Tone technologies. NetEase, Inc., formerly known as NetEase.com, Inc., is based in Beijing, the People’s Republic of China. “
Several other research analysts have also commented on NTES. BidaskClub upgraded shares of NetEase from a sell rating to a hold rating in a research note on Tuesday, June 12th. JPMorgan Chase & Co. upgraded shares of NetEase from an underweight rating to an overweight rating and set a $185.00 price objective for the company in a research note on Tuesday, July 3rd. Barclays reiterated a hold rating and set a $275.00 price objective (up previously from $255.00) on shares of NetEase in a research note on Saturday, July 28th. Macquarie lowered shares of NetEase from an outperform rating to a neutral rating in a research note on Thursday, August 9th. Finally, Nomura reduced their price objective on shares of NetEase from $386.00 to $352.00 and set a buy rating for the company in a research note on Friday, August 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $319.38.
Shares of NASDAQ NTES traded up $9.48 during trading hours on Wednesday, hitting $220.88. 1,159,022 shares of the stock were exchanged, compared to its average volume of 1,141,026. The firm has a market cap of $29.98 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.55 and a beta of 0.79. NetEase has a 12 month low of $184.60 and a 12 month high of $377.64.
NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Wednesday, August 8th. The technology company reported $2.44 EPS for the quarter, topping the consensus estimate of $1.62 by $0.82. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.61 billion. NetEase had a net margin of 11.49% and a return on equity of 14.57%. Analysts anticipate that NetEase will post 7.01 EPS for the current year.
Institutional investors have recently modified their holdings of the business. Banco de Sabadell S.A purchased a new stake in shares of NetEase in the 1st quarter valued at $100,000. Tower Research Capital LLC TRC purchased a new stake in shares of NetEase in the 2nd quarter valued at $108,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of NetEase by 96.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 462 shares of the technology company’s stock valued at $117,000 after acquiring an additional 227 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of NetEase in the 2nd quarter valued at $167,000. Finally, Verition Fund Management LLC purchased a new stake in shares of NetEase in the 1st quarter valued at $279,000. Institutional investors and hedge funds own 45.78% of the company’s stock.
NetEase Company Profile
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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