NetEase, Inc. (NASDAQ:NTES) was downgraded by analysts at CLSA from an “outperform” rating to an “underperform” rating in a research note issued to investors on Thursday, The Fly reports.

Several other equities analysts have also weighed in on NTES. Zacks Investment Research lowered NetEase from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub lowered NetEase from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Vetr lowered NetEase from a “strong-buy” rating to a “buy” rating and set a $318.49 target price on the stock. in a research note on Monday, May 22nd. Instinet lowered NetEase from a “buy” rating to a “neutral” rating and cut their target price for the company from $307.00 to $297.00 in a research note on Thursday, May 11th. Finally, Standpoint Research lowered NetEase from a “buy” rating to a “reduce” rating and increased their target price for the company from $345.00 to $360.00 in a research note on Wednesday, June 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. NetEase presently has a consensus rating of “Hold” and a consensus price target of $301.90.

Shares of NetEase (NTES) opened at 315.05 on Thursday. The firm has a market cap of $41.44 billion, a P/E ratio of 21.42 and a beta of 0.92. The firm’s 50-day moving average price is $308.81 and its 200 day moving average price is $287.70. NetEase has a 12-month low of $199.01 and a 12-month high of $337.55.

COPYRIGHT VIOLATION NOTICE: This piece of content was first posted by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/10/clsa-lowers-netease-inc-nasdaqntes-to-underperform.html.

Large investors have recently made changes to their positions in the stock. Assetmark Inc. raised its stake in shares of NetEase by 51.0% in the first quarter. Assetmark Inc. now owns 367 shares of the technology company’s stock worth $104,000 after buying an additional 124 shares in the last quarter. IFP Advisors Inc raised its stake in shares of NetEase by 21.4% in the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock worth $118,000 after buying an additional 69 shares in the last quarter. Howe & Rusling Inc. raised its stake in shares of NetEase by 7.2% in the first quarter. Howe & Rusling Inc. now owns 715 shares of the technology company’s stock worth $203,000 after buying an additional 48 shares in the last quarter. Private Advisory Group LLC purchased a new stake in shares of NetEase during the first quarter worth about $205,000. Finally, Huntington National Bank raised its stake in shares of NetEase by 84.7% in the second quarter. Huntington National Bank now owns 700 shares of the technology company’s stock worth $210,000 after buying an additional 321 shares in the last quarter. 55.53% of the stock is currently owned by institutional investors and hedge funds.

About NetEase

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.

The Fly

Analyst Recommendations for NetEase (NASDAQ:NTES)

Receive News & Ratings for NetEase Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase Inc. and related companies with MarketBeat.com's FREE daily email newsletter.