NetEase (NASDAQ:NTES) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of NetEase (NASDAQ:NTES) from a strong-buy rating to a buy rating in a research note released on Saturday.

A number of other research firms have also recently weighed in on NTES. Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 price target on shares of NetEase in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research note on Wednesday, October 8th. Barclays set a $120.00 target price on NetEase and gave the company an “equal weight” rating in a research report on Monday, August 18th. Arete Research raised shares of NetEase to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Arete upgraded shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.33.

NetEase Stock Performance

Shares of NetEase stock opened at $140.13 on Friday. The firm has a 50-day simple moving average of $147.62 and a two-hundred day simple moving average of $134.66. NetEase has a fifty-two week low of $83.43 and a fifty-two week high of $159.55. The company has a market cap of $88.79 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of NetEase by 68,860.6% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock valued at $1,299,684,000 after purchasing an additional 8,538,717 shares in the last quarter. Wellington Management Group LLP boosted its stake in NetEase by 111.7% during the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company’s stock worth $204,661,000 after buying an additional 1,049,023 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in NetEase by 54.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company’s stock valued at $203,560,000 after buying an additional 697,192 shares in the last quarter. Bank of Montreal Can grew its holdings in NetEase by 1,636.4% in the 3rd quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock valued at $100,702,000 after buying an additional 624,399 shares in the last quarter. Finally, Man Group plc increased its stake in shares of NetEase by 33.3% in the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after acquiring an additional 245,872 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Company Profile

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.