NetEase (NASDAQ:NTES) Rating Increased to Strong-Buy at StockNews.com

NetEase (NASDAQ:NTES - Get Free Report) was upgraded by research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report issued on Wednesday.

Several other analysts have also weighed in on the company. Morgan Stanley lowered their target price on NetEase from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, April 12th. HSBC lowered their target price on NetEase from $130.00 to $126.00 and set a "buy" rating on the stock in a report on Wednesday, April 24th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $126.00.

NetEase Stock Down 0.3 %

NTES stock traded down $0.30 on Wednesday, reaching $96.63. 1,233,887 shares of the company's stock were exchanged, compared to its average volume of 1,722,735. The stock has a fifty day moving average of $100.76 and a 200-day moving average of $102.59. NetEase has a twelve month low of $80.79 and a twelve month high of $118.89. The firm has a market cap of $62.30 billion, a PE ratio of 15.27, a P/E/G ratio of 0.94 and a beta of 0.58.

NetEase (NASDAQ:NTES - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $1.62 by ($0.20). NetEase had a return on equity of 24.36% and a net margin of 28.39%. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.96 billion. On average, equities research analysts predict that NetEase will post 7.04 EPS for the current fiscal year.

Institutional Trading of NetEase

Several institutional investors and hedge funds have recently made changes to their positions in NTES. Wellington Management Group LLP lifted its position in NetEase by 226.4% during the fourth quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company's stock worth $176,677,000 after buying an additional 1,315,410 shares during the period. Tairen Capital Ltd purchased a new position in NetEase during the fourth quarter worth about $164,307,000. WT Asset Management Ltd lifted its position in NetEase by 381.1% during the fourth quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company's stock worth $92,851,000 after buying an additional 789,499 shares during the period. Aspex Management HK Ltd purchased a new position in NetEase during the fourth quarter worth about $59,354,000. Finally, Van ECK Associates Corp lifted its position in NetEase by 23.8% during the first quarter. Van ECK Associates Corp now owns 580,515 shares of the technology company's stock worth $60,066,000 after buying an additional 111,743 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Company Profile

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.

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