NetEase (NASDAQ:NTES) Upgraded by Arete to Buy Rating

Key Points

• NetEase was upgraded from a "sell" to a "buy" rating by analysts at Arete, with a target price of $150.00, indicating a potential upside of 10.53%.
• Other analysts have varied ratings for NetEase, with a consensus rating of "Moderate Buy" and an average target price of $128.78.
• Institutional investors have significantly increased their stakes in NetEase, with notable boosts by firms like NewSquare Capital and Private Trust Co. NA.

NetEase (NASDAQ:NTES - Get Free Report) was upgraded by investment analysts at Arete from a "sell" rating to a "buy" rating in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a $150.00 price objective on the technology company's stock. Arete's price target suggests a potential upside of 11.72% from the company's previous close.

Several other equities analysts have also recently commented on NTES. Barclays set a $120.00 target price on shares of NetEase and gave the company an "equal weight" rating in a research note on Monday, August 18th. Arete Research set a $150.00 target price on shares of NetEase in a research note on Tuesday. JPMorgan Chase & Co. cut shares of NetEase from an "overweight" rating to a "neutral" rating and upped their target price for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 target price for the company. Finally, Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, NetEase presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

NetEase Trading Up 0.8%

NASDAQ:NTES traded up $1.13 during trading hours on Wednesday, hitting $134.27. 378,788 shares of the company traded hands, compared to its average volume of 856,936. The stock has a market capitalization of $85.07 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.79 and a beta of 0.67. NetEase has a twelve month low of $75.85 and a twelve month high of $141.45. The firm has a 50-day moving average of $132.85 and a 200 day moving average of $118.08.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of NetEase by 7,698.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after acquiring an additional 2,780,897 shares during the period. Wellington Management Group LLP lifted its holdings in shares of NetEase by 111.7% during the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock valued at $204,661,000 after acquiring an additional 1,049,023 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of NetEase by 54.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock valued at $203,560,000 after acquiring an additional 697,192 shares during the period. Man Group plc lifted its holdings in shares of NetEase by 98.0% during the fourth quarter. Man Group plc now owns 708,268 shares of the technology company's stock valued at $63,185,000 after acquiring an additional 350,578 shares during the period. Finally, New York State Common Retirement Fund bought a new position in shares of NetEase during the first quarter valued at $28,765,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.