NetEase Inc. (NTES) Upgraded to Buy by CICC Research
NetEase Inc. (NASDAQ:NTES) was upgraded by analysts at CICC Research to a “buy” rating in a research report issued on Wednesday. The firm currently has a $345.00 target price on the stock. CICC Research’s price target indicates a potential upside of 31.97% from the stock’s current price.
NTES has been the subject of a number of other reports. Zacks Investment Research raised NetEase from a “hold” rating to a “buy” rating and set a $232.00 target price for the company in a research report on Thursday, July 28th. Vetr lowered NetEase from a “sell” rating to a “strong sell” rating and set a $210.98 price target for the company. in a research report on Monday, September 19th. Brean Capital reissued a “buy” rating on shares of NetEase in a research report on Tuesday, August 2nd. Finally, Macquarie boosted their price target on NetEase from $256.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $229.34.
NetEase (NASDAQ:NTES) traded up 2.84% during midday trading on Wednesday, hitting $261.42. The company had a trading volume of 2,036,734 shares. The stock has a market capitalization of $34.28 billion, a PE ratio of 25.03 and a beta of 1.04. The stock has a 50 day moving average price of $234.48 and a 200-day moving average price of $186.37. NetEase has a 52 week low of $129.60 and a 52 week high of $270.93.
NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.61 by $1.06. NetEase had a return on equity of 31.47% and a net margin of 29.34%. On average, equities analysts predict that NetEase will post $12.55 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC increased its stake in NetEase by 0.4% in the first quarter. Lazard Asset Management LLC now owns 5,028,755 shares of the company’s stock valued at $722,028,000 after buying an additional 21,375 shares during the last quarter. Rafferty Asset Management LLC purchased a new stake in NetEase during the first quarter valued at $756,000. Credit Agricole S A increased its stake in NetEase by 176.2% in the first quarter. Credit Agricole S A now owns 214,432 shares of the company’s stock valued at $30,789,000 after buying an additional 136,806 shares during the last quarter. Alpine Partners VI LLC purchased a new stake in NetEase during the first quarter valued at $283,000. Finally, Aviva PLC increased its stake in NetEase by 7.3% in the first quarter. Aviva PLC now owns 5,900 shares of the company’s stock valued at $847,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 59.57% of the company’s stock.
NetEase Company Profile
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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