NetEase, Inc. (NTES) Receives Consensus Recommendation of “Hold” from Analysts
Shares of NetEase, Inc. (NASDAQ:NTES) have been assigned an average recommendation of “Hold” from the eighteen ratings firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $293.96.
A number of research firms have commented on NTES. BidaskClub cut NetEase from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research cut NetEase from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Jefferies Group LLC cut NetEase from a “buy” rating to a “hold” rating and decreased their price target for the stock from $330.00 to $290.00 in a research note on Tuesday, October 3rd. ValuEngine cut NetEase from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $320.50 price target on the stock in a research note on Wednesday, September 20th.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. 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 valued at $118,000 after acquiring an additional 69 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of NetEase by 22.4% in the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock valued at $161,000 after acquiring an additional 98 shares in the last quarter. Mariner Wealth Advisors LLC acquired a new stake in shares of NetEase in the second quarter valued at $203,000. Private Advisory Group LLC acquired a new stake in shares of NetEase in the first quarter valued at $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 valued at $210,000 after acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 50.35% of the company’s stock.
Shares of NetEase (NASDAQ:NTES) traded up 1.003% during midday trading on Wednesday, hitting $282.455. The company had a trading volume of 842,248 shares. The company has a market capitalization of $37.23 billion, a PE ratio of 18.308 and a beta of 0.94. The company has a 50-day moving average of $271.57 and a 200-day moving average of $285.83. NetEase has a 12 month low of $211.11 and a 12 month high of $337.55.
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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