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

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 on Tuesday.

NetEase Stock Performance

Shares of NetEase stock opened at $103.69 on Tuesday. NetEase has a 52-week low of $80.79 and a 52-week high of $118.89. The company’s 50 day moving average price is $104.42 and its 200-day moving average price is $103.68. The stock has a market capitalization of $66.85 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 0.90 and a beta of 0.59.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.20). The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. As a group, equities research analysts forecast that NetEase will post 7.19 earnings per share for the current fiscal year.

Institutional Trading of NetEase

Several institutional investors and hedge funds have recently modified their holdings of NTES. Willner & Heller LLC bought a new position in shares of NetEase during the 4th quarter valued at approximately $331,000. Wellington Management Group LLP lifted its stake in shares of NetEase by 226.4% during the 4th quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock worth $176,677,000 after purchasing an additional 1,315,410 shares during the last quarter. Virtu Financial LLC purchased a new position in NetEase in the fourth quarter worth $3,566,000. V Square Quantitative Management LLC purchased a new stake in NetEase during the 4th quarter worth approximately $371,000. Finally, FIL Ltd increased its holdings in shares of NetEase by 73.2% in the fourth quarter. FIL Ltd now owns 1,572,418 shares of the technology company’s stock valued at $146,486,000 after purchasing an additional 664,577 shares during the period. 11.07% of the stock is currently owned by institutional investors.

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.