NetEase (NASDAQ:NTES) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• NetEase's rating was downgraded by Wall Street Zen from "strong-buy" to "buy" in their latest research note.
• Several analysts have varying views on NetEase, with Deutsche Bank initiating coverage with a "buy" rating and a price target of $130.00.
• The company has a market capitalization of $81.87 billion, with a consensus rating of "Moderate Buy" and a average price target of $120.00 according to MarketBeat.

NetEase (NASDAQ:NTES - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

NTES has been the topic of a number of other reports. Barclays raised their price target on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and raised their price target for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, NetEase currently has a consensus rating of "Moderate Buy" and an average target price of $120.25.

NetEase Price Performance

NASDAQ:NTES traded down $2.1350 during mid-day trading on Friday, hitting $128.1650. The company's stock had a trading volume of 379,298 shares, compared to its average volume of 1,234,998. NetEase has a 1 year low of $75.85 and a 1 year high of $141.45. The stock has a market cap of $81.20 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 4.48 and a beta of 0.67. The business's fifty day moving average is $132.01 and its two-hundred day moving average is $115.24.

Institutional Trading of NetEase

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewSquare Capital LLC grew its stake in shares of NetEase by 137.2% in the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company's stock worth $25,000 after acquiring an additional 107 shares in the last quarter. Private Trust Co. NA grew its stake in shares of NetEase by 266.0% during the second quarter. Private Trust Co. NA now owns 194 shares of the technology company's stock worth $26,000 after purchasing an additional 141 shares in the last quarter. USA Financial Formulas acquired a new position in shares of NetEase during the second quarter worth $30,000. Reyes Financial Architecture Inc. grew its stake in shares of NetEase by 1,189.5% during the second quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company's stock worth $33,000 after purchasing an additional 226 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new position in NetEase in the second quarter valued at $33,000. Hedge funds and other 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.