NetEase (NASDAQ:NTES) Stock Rating Upgraded by Zacks Research

NetEase (NASDAQ:NTES) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on NTES. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research report on Tuesday, May 26th. Citigroup reaffirmed a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Barclays decreased their price target on NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Finally, Nomura decreased their price target on NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

NetEase Price Performance

NTES stock opened at $120.73 on Monday. The firm has a market capitalization of $77.08 billion, a P/E ratio of 16.03, a P/E/G ratio of 1.54 and a beta of 0.72. The business’s 50-day moving average is $116.27 and its two-hundred day moving average is $124.61. NetEase has a 1 year low of $106.06 and a 1 year high of $159.55.

Institutional Trading of NetEase

Institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of NetEase during the first quarter worth about $25,000. Atlas Capital Advisors Inc. acquired a new stake in shares of NetEase during the fourth quarter worth about $47,000. Harbour Investments Inc. increased its position in shares of NetEase by 7,480.0% during the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after purchasing an additional 374 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of NetEase by 3,381.8% during the second quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after purchasing an additional 372 shares in the last quarter. Finally, MidFirst Bank acquired a new stake in shares of NetEase during the fourth quarter worth about $57,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Company Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.