NetEase (NASDAQ:NTES) Stock Rating Upgraded by Arete Research

Key Points

• Arete Research has upgraded NetEase (NASDAQ:NTES) to a "strong-buy" rating, reflecting increased confidence in the company's future performance.
• While Arete has upgraded NetEase, Zacks Research recently dropped the stock's rating from "strong-buy" to "hold," highlighting mixed analyst sentiments.
• NetEase's market cap currently stands at $84.36 billion with an average price target of $128.78 according to analysts' consensus.

NetEase (NASDAQ:NTES - Get Free Report) was upgraded by Arete Research to a "strong-buy" rating in a research report issued to clients and investors on Wednesday, September 3rd,Zacks.com reports.

Several other equities analysts also recently commented on NTES. Zacks Research downgraded NetEase from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Barclays set a $120.00 target price on NetEase and gave the company an "equal weight" rating in a research report on Monday, August 18th. Arete upgraded NetEase from a "sell" rating to a "buy" rating and set a $150.00 target price for the company in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. downgraded NetEase from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $135.00 to $140.00 in a research report on Monday, July 28th. Finally, Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, NetEase has an average rating of "Moderate Buy" and an average price target of $128.78.

NetEase Price Performance

NASDAQ:NTES traded up $0.90 during trading hours on Wednesday, hitting $144.80. The company's stock had a trading volume of 212,109 shares, compared to its average volume of 1,187,999. The stock has a fifty day simple moving average of $133.22 and a 200-day simple moving average of $118.66. The company has a market capitalization of $91.74 billion, a P/E ratio of 19.61, a PEG ratio of 1.92 and a beta of 0.67. NetEase has a twelve month low of $75.88 and a twelve month high of $145.90.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of NetEase by 20.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock valued at $894,000 after buying an additional 1,495 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of NetEase during the 1st quarter valued at $398,000. Concurrent Investment Advisors LLC lifted its position in shares of NetEase by 5.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after buying an additional 132 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of NetEase by 10,192.0% during the 1st quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock valued at $265,000 after buying an additional 2,548 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc purchased a new position in shares of NetEase during the 1st quarter valued at $206,000. Hedge funds and other institutional investors own 11.07% of the company's stock.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.