Vetr Inc. Lowers NetEase, Inc. (NTES) to Hold
NetEase, Inc. (NASDAQ:NTES) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They currently have a $323.68 price objective on the technology company’s stock. Vetr‘s price objective would suggest a potential downside of 11.92% from the company’s previous close.
Several other equities research analysts also recently issued reports on NTES. Deutsche Bank AG reiterated a “buy” rating and set a $343.00 price target (up previously from $300.00) on shares of NetEase in a report on Tuesday, July 25th. BidaskClub downgraded NetEase from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research downgraded NetEase from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. CLSA downgraded NetEase from an “outperform” rating to an “underperform” rating in a report on Thursday, August 10th. Finally, ValuEngine downgraded NetEase from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $320.38.
Shares of NetEase (NASDAQ:NTES) opened at $367.50 on Monday. NetEase has a 1-year low of $211.11 and a 1-year high of $375.10. The stock has a market capitalization of $48,547.12, a price-to-earnings ratio of 24.47, a P/E/G ratio of 1.55 and a beta of 0.91.
NetEase declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 15th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of NetEase during the 3rd quarter valued at $2,092,000. Cetera Advisor Networks LLC lifted its holdings in NetEase by 18.0% during the 3rd quarter. Cetera Advisor Networks LLC now owns 1,556 shares of the technology company’s stock worth $411,000 after purchasing an additional 237 shares in the last quarter. TT International purchased a new stake in NetEase during the 3rd quarter worth about $17,715,000. Janney Montgomery Scott LLC lifted its holdings in NetEase by 2.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 7,021 shares of the technology company’s stock worth $1,852,000 after purchasing an additional 170 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in NetEase by 117.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after purchasing an additional 267 shares in the last quarter. 50.70% of the stock is currently owned by hedge funds and other institutional investors.
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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