NetEase (NASDAQ:NTES) Given New $117.00 Price Target at Morgan Stanley

NetEase (NASDAQ:NTES) had its target price raised by Morgan Stanley from $108.00 to $117.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the technology company’s stock.

Several other equities research analysts also recently commented on NTES. Bank of America upped their target price on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Citigroup lifted their target price on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Benchmark lowered their price target on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, NetEase has an average rating of “Moderate Buy” and a consensus price target of $110.00.

NetEase Price Performance

Shares of NTES stock opened at $109.14 on Wednesday. The stock has a market cap of $70.09 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 3.45 and a beta of 0.58. The stock has a 50-day moving average of $96.25 and a 200-day moving average of $88.97. NetEase has a one year low of $75.85 and a one year high of $114.50.

Institutional Trading of NetEase

Institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. raised its position in NetEase by 154.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 72,220 shares of the technology company’s stock valued at $6,753,000 after buying an additional 43,836 shares during the last quarter. Naviter Wealth LLC grew its stake in shares of NetEase by 28.4% during the 3rd quarter. Naviter Wealth LLC now owns 8,427 shares of the technology company’s stock worth $788,000 after acquiring an additional 1,865 shares in the last quarter. Marshall Financial Group LLC grew its stake in shares of NetEase by 2.2% during the 3rd quarter. Marshall Financial Group LLC now owns 18,254 shares of the technology company’s stock worth $1,707,000 after acquiring an additional 386 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of NetEase by 44.6% in the third quarter. Blue Trust Inc. now owns 4,509 shares of the technology company’s stock valued at $431,000 after purchasing an additional 1,391 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of NetEase in the third quarter worth $76,000. 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.