NetEase (NASDAQ:NTES) Raised to Overweight at JPMorgan Chase & Co.

Key Points

• NetEase has been upgraded from a "neutral" to an "overweight" rating by JPMorgan Chase & Co., with a new price target of $190.00, indicating a potential upside of 25.30% from the last closing price.
• Multiple research firms have expressed positive sentiments towards NetEase, with assessments ranging from "strong-buy" to "buy," leading to an average rating of "Moderate Buy" and a price target of $142.30.
• Institutional investors hold about 11.07% of NetEase's stock, and recent transactions show significant stake increases among various hedge funds.

NetEase (NASDAQ:NTES - Get Free Report) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a note issued to investors on Friday,Benzinga reports. The firm currently has a $190.00 price target on the technology company's stock, up from their prior price target of $138.00. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 25.30% from the stock's previous close.

NTES has been the topic of a number of other research reports. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 target price on shares of NetEase in a research note on Wednesday. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 3rd. Barclays set a $120.00 target price on NetEase and gave the company an "equal weight" rating in a research note on Monday, August 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NetEase in a research note on Wednesday. Finally, Arete raised NetEase from a "sell" rating to a "buy" rating and set a $150.00 target price on the stock in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $142.30.

NetEase Price Performance

Shares of NASDAQ NTES opened at $151.64 on Friday. The business's 50 day moving average is $141.47 and its two-hundred day moving average is $126.25. NetEase has a 1-year low of $75.88 and a 1-year high of $159.55. The stock has a market capitalization of $96.08 billion, a P/E ratio of 20.52, a PEG ratio of 2.05 and a beta of 0.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NTES. Brighton Jones LLC grew its stake in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after purchasing an additional 117 shares in the last quarter. GAMMA Investing LLC boosted its position in 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 acquiring an additional 2,548 shares in the last quarter. Farther Finance Advisors LLC boosted its position in NetEase by 191.7% during the 1st quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock valued at $105,000 after acquiring an additional 648 shares in the last quarter. Focus Financial Network Inc. boosted its position in NetEase by 5.6% during the 1st quarter. Focus Financial Network Inc. now owns 3,763 shares of the technology company's stock valued at $387,000 after acquiring an additional 200 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in NetEase by 2.7% during the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock valued at $542,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 11.07% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.