NetEase Inc. (NASDAQ:NTES) was upgraded by investment analysts at CICC Research to a “buy” rating in a report released on Wednesday. The firm currently has a $345.00 price target on the stock. CICC Research’s price objective would indicate a potential upside of 31.69% from the company’s current price.
A number of other brokerages also recently issued reports on NTES. Vetr downgraded NetEase from a “buy” rating to a “hold” rating and set a $266.16 price objective on the stock. in a research note on Monday. Macquarie boosted their price objective on NetEase from $256.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, September 28th. Jefferies Group assumed coverage on NetEase in a research note on Thursday, September 29th. They issued a “hold” rating and a $245.00 price objective on the stock. Credit Agricole SA raised NetEase from an “underperform” rating to an “outperform” rating and set a $272.00 price objective on the stock in a research note on Monday, October 3rd. Finally, Zacks Investment Research raised NetEase from a “hold” rating to a “strong-buy” rating and set a $244.00 price objective on the stock in a research note on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $233.57.
Shares of NetEase (NASDAQ:NTES) opened at 261.98 on Wednesday. The firm has a market capitalization of $34.35 billion, a PE ratio of 25.08 and a beta of 1.04. The stock has a 50 day moving average price of $236.70 and a 200-day moving average price of $187.44. NetEase has a 52-week low of $129.60 and a 52-week high of $270.93.
NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $1.06. NetEase had a return on equity of 31.47% and a net margin of 29.34%. Equities analysts forecast that NetEase will post $12.55 EPS for the current year.
A number of institutional investors have recently modified their holdings of the stock. AXA increased its position in shares of NetEase by 60.0% in the second quarter. AXA now owns 800 shares of the company’s stock valued at $155,000 after buying an additional 300 shares during the last quarter. Advisor Group Inc. bought a new position in shares of NetEase during the second quarter worth approximately $200,000. HBK Sorce Advisory LLC bought a new position in shares of NetEase during the second quarter worth approximately $232,000. Janney Montgomery Scott LLC bought a new position in shares of NetEase during the second quarter worth approximately $236,000. Finally, Ameritas Investment Partners Inc. bought a new position in shares of NetEase during the second quarter worth approximately $260,000. Institutional investors own 59.57% of the company’s stock.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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