NetEase, Inc. (NASDAQ:NTES) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of NetEase, Inc. (NASDAQ:NTES) from a hold rating to a buy rating in a research note issued to investors on Friday.

Other equities analysts also recently issued reports about the company. Zacks Investment Research raised NetEase from a hold rating to a strong-buy rating and set a $346.00 target price for the company in a research note on Wednesday, July 12th. Standpoint Research cut NetEase from a buy rating to a reduce rating and upped their price target for the stock from $345.00 to $360.00 in a report on Wednesday, June 7th. Jefferies Group LLC restated a buy rating and issued a $330.00 price target on shares of NetEase in a report on Friday, June 16th. Vetr cut NetEase from a strong-buy rating to a buy rating and set a $318.49 price target on the stock. in a report on Tuesday, May 16th. Finally, Instinet cut NetEase from a buy rating to a neutral rating and lowered their price target for the stock from $307.00 to $297.00 in a report on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $295.52.

NetEase (NTES) traded down 2.69% during mid-day trading on Friday, reaching $301.99. The company had a trading volume of 1,248,010 shares. NetEase has a 12 month low of $193.27 and a 12 month high of $337.55.

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Several hedge funds have recently made changes to their positions in NTES. Ardevora Asset Management LLP increased its stake in shares of NetEase by 7.2% in the second quarter. Ardevora Asset Management LLP now owns 136,300 shares of the technology company’s stock valued at $40,976,000 after buying an additional 9,200 shares in the last quarter. OLD National Bancorp IN increased its stake in shares of NetEase by 0.4% in the second quarter. OLD National Bancorp IN now owns 930 shares of the technology company’s stock valued at $280,000 after buying an additional 4 shares in the last quarter. Eqis Capital Management Inc. increased its stake in shares of NetEase by 7.6% in the second quarter. Eqis Capital Management Inc. now owns 3,528 shares of the technology company’s stock valued at $1,061,000 after buying an additional 249 shares in the last quarter. Green Court Capital Management Ltd acquired a new stake in shares of NetEase during the second quarter valued at $47,675,000. Finally, Fisher Asset Management LLC increased its stake in shares of NetEase by 142.3% in the second quarter. Fisher Asset Management LLC now owns 839,739 shares of the technology company’s stock valued at $252,451,000 after buying an additional 493,209 shares in the last quarter. Institutional investors own 54.83% 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.

Analyst Recommendations for NetEase (NASDAQ:NTES)

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