NetEase Inc. (NTES) Stock Price Up 2.5%
NetEase Inc. (NASDAQ:NTES) rose 2.5% during mid-day trading on Friday . The company traded as high as $206.49 and last traded at $205.27, with a volume of 847,144 shares trading hands. The stock had previously closed at $200.29.
NTES has been the topic of a number of research analyst reports. Brean Capital initiated coverage on shares of NetEase in a research note on Monday, July 18th. They issued a “buy” rating and a $235.00 price target on the stock. Deutsche Bank AG lifted their price target on shares of NetEase from $190.00 to $207.00 and gave the company a “buy” rating in a research note on Friday, June 24th. Nomura raised shares of NetEase from a “neutral” rating to a “buy” rating and lifted their price target for the company from $174.00 to $194.00 in a research note on Thursday, May 12th. Finally, Zacks Investment Research raised shares of NetEase from a “hold” rating to a “buy” rating and set a $232.00 price target on the stock in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. NetEase currently has an average rating of “Buy” and a consensus price target of $185.00.
The firm’s 50-day moving average is $194.75 and its 200 day moving average is $161.36. The stock has a market cap of $27.09 billion and a PE ratio of 22.91.
NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Wednesday, May 11th. The company reported $3.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $14.92 by $11.80. Equities analysts expect that NetEase Inc. will post $11.09 earnings per share for the current year.
A number of hedge funds and institutional investors have added to or reduced their stakes in NTES. Principal Financial Group Inc. purchased a new position in shares of NetEase during the fourth quarter worth $21,656,000. BNP Paribas Arbitrage SA boosted its position in shares of NetEase by 533.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 83,128 shares of the company’s stock worth $15,066,000 after buying an additional 70,015 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of NetEase by 18.1% in the fourth quarter. Wells Fargo & Company MN now owns 145,058 shares of the company’s stock worth $26,291,000 after buying an additional 22,255 shares in the last quarter. Airain ltd boosted its position in shares of NetEase by 394.0% in the fourth quarter. Airain ltd now owns 15,535 shares of the company’s stock worth $2,816,000 after buying an additional 12,390 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in shares of NetEase by 92.8% in the fourth quarter. Trexquant Investment LP now owns 10,410 shares of the company’s stock worth $1,887,000 after buying an additional 5,010 shares in the last quarter.
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.
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