Morgan Stanley Upgrades NetEase (NTES) to “Overweight”
NetEase (NASDAQ:NTES) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage presently has a $300.00 target price on the technology company’s stock. Morgan Stanley’s target price would indicate a potential upside of 26.79% from the stock’s previous close.
Several other analysts also recently commented on NTES. Macquarie downgraded shares of NetEase from an “outperform” rating to a “neutral” rating in a report on Thursday, August 9th. JPMorgan Chase & Co. dropped their target price on shares of NetEase from $290.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, August 10th. Nomura dropped their target price on shares of NetEase from $386.00 to $352.00 and set a “buy” rating on the stock in a report on Friday, August 10th. ValuEngine downgraded shares of NetEase from a “sell” rating to a “strong sell” rating in a report on Friday, August 10th. Finally, BidaskClub downgraded shares of NetEase from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $298.27.
Shares of NTES stock opened at $236.61 on Thursday. The company has a market cap of $31.32 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.61 and a beta of 0.97. NetEase has a 52 week low of $184.60 and a 52 week high of $377.64.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of NetEase by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,562,086 shares of the technology company’s stock worth $584,796,000 after acquiring an additional 43,455 shares in the last quarter. Comgest Global Investors S.A.S. grew its stake in shares of NetEase by 0.6% in the third quarter. Comgest Global Investors S.A.S. now owns 2,244,860 shares of the technology company’s stock valued at $512,389,000 after buying an additional 12,700 shares in the last quarter. Steadfast Capital Management LP bought a new position in shares of NetEase in the third quarter valued at $276,011,000. Artisan Partners Limited Partnership grew its stake in shares of NetEase by 0.6% in the second quarter. Artisan Partners Limited Partnership now owns 1,121,223 shares of the technology company’s stock valued at $283,299,000 after buying an additional 6,926 shares in the last quarter. Finally, Vontobel Asset Management Inc. bought a new position in shares of NetEase in the second quarter valued at $256,375,000. 45.40% of the stock is owned by institutional investors.
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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