Nomura Lowers NetEase (NASDAQ:NTES) Price Target to $155.00

NetEase (NASDAQ:NTES) had its target price reduced by investment analysts at Nomura from $160.00 to $155.00 in a research note issued on Friday,MarketScreener reports. The firm presently has a “buy” rating on the technology company’s stock. Nomura’s target price suggests a potential upside of 31.17% from the company’s current price.

A number of other research firms have also commented on NTES. Barclays decreased their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research note on Thursday. Sanford C. Bernstein set a $155.00 price objective on NetEase in a research report on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Citigroup reissued a “buy” rating on shares of NetEase in a research report on Wednesday. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a research report on Thursday. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.67.

NetEase Stock Down 0.3%

Shares of NetEase stock opened at $118.17 on Friday. NetEase has a 12-month low of $88.54 and a 12-month high of $159.55. The firm has a market capitalization of $74.87 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.32 and a beta of 0.71. The stock’s fifty day moving average is $134.98 and its 200-day moving average is $139.12.

Hedge Funds Weigh In On NetEase

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after acquiring an additional 117 shares during the period. Strs Ohio bought a new position in shares of NetEase in the first quarter worth about $63,000. Aberdeen Group plc boosted its stake in NetEase by 225.3% during the 2nd quarter. Aberdeen Group plc now owns 17,358 shares of the technology company’s stock valued at $2,337,000 after purchasing an additional 12,022 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in NetEase by 48.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,666 shares of the technology company’s stock valued at $1,033,000 after purchasing an additional 2,499 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in NetEase in the 2nd quarter valued at approximately $225,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.