NetEase (NASDAQ:NTES) Downgraded by Zacks Investment Research

Share on StockTwits

Zacks Investment Research downgraded shares of NetEase (NASDAQ:NTES) from a buy rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.

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. “

NTES has been the subject of a number of other reports. TH Capital lifted their price target on shares of NetEase from $270.00 to $310.00 and gave the company a buy rating in a research report on Monday, May 13th. Barclays lifted their price target on shares of NetEase from $300.00 to $320.00 and gave the company an overweight rating in a research report on Monday, May 20th. BidaskClub downgraded shares of NetEase from a hold rating to a sell rating in a research report on Wednesday, July 24th. Benchmark reiterated a buy rating and issued a $305.00 price target (up from $295.00) on shares of NetEase in a research report on Thursday, May 16th. Finally, China Renaissance Securities upgraded shares of NetEase from a hold rating to a buy rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. NetEase currently has an average rating of Buy and a consensus price target of $279.51.

Shares of NASDAQ:NTES opened at $211.88 on Friday. NetEase has a 12-month low of $184.60 and a 12-month high of $289.68. The company has a market capitalization of $27.63 billion, a PE ratio of 30.84, a PEG ratio of 1.73 and a beta of 0.87. The stock’s 50 day moving average price is $250.90.

NetEase (NASDAQ:NTES) last released its quarterly earnings results on Wednesday, May 15th. The technology company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.89. NetEase had a net margin of 10.94% and a return on equity of 17.05%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the business earned $1.59 earnings per share. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. As a group, research analysts expect that NetEase will post 8.55 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Enlightenment Research LLC bought a new stake in shares of NetEase in the second quarter worth $273,000. Teacher Retirement System of Texas grew its stake in shares of NetEase by 6.6% in the second quarter. Teacher Retirement System of Texas now owns 66,976 shares of the technology company’s stock worth $17,130,000 after purchasing an additional 4,159 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of NetEase by 3.6% in the second quarter. CIBC Asset Management Inc now owns 5,919 shares of the technology company’s stock worth $1,514,000 after purchasing an additional 208 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of NetEase by 10.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,332 shares of the technology company’s stock worth $35,125,000 after purchasing an additional 12,899 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of NetEase in the second quarter worth $781,000. Institutional investors and hedge funds own 45.88% of the company’s stock.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. 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.

Featured Story: What are convertible shares? 

Get a free copy of the Zacks research report on NetEase (NTES)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for NetEase (NASDAQ:NTES)

Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Prestige Consumer Healthcare Inc  Expected to Post Earnings of $0.65 Per Share
Prestige Consumer Healthcare Inc Expected to Post Earnings of $0.65 Per Share
Brokerages Anticipate MediciNova, Inc.  Will Post Earnings of -$0.15 Per Share
Brokerages Anticipate MediciNova, Inc. Will Post Earnings of -$0.15 Per Share
Zacks: Brokerages Anticipate Open Text Corp  Will Post Earnings of $0.64 Per Share
Zacks: Brokerages Anticipate Open Text Corp Will Post Earnings of $0.64 Per Share
State Board of Administration of Florida Retirement System Trims Position in Broadridge Financial Solutions, Inc.
State Board of Administration of Florida Retirement System Trims Position in Broadridge Financial Solutions, Inc.
State Board of Administration of Florida Retirement System Grows Stake in WellCare Health Plans, Inc.
State Board of Administration of Florida Retirement System Grows Stake in WellCare Health Plans, Inc.
State Board of Administration of Florida Retirement System Has $19.61 Million Stock Position in Akamai Technologies, Inc.
State Board of Administration of Florida Retirement System Has $19.61 Million Stock Position in Akamai Technologies, Inc.


© 2006-2019 Ticker Report