NetEase (NASDAQ:NTES) Stock Rating Upgraded by Wall Street Zen

Key Points

• NetEase (NASDAQ: NTES) has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased confidence among analysts.
• Despite the upgrade, other brokerages like JPMorgan Chase & Co. and Zacks Research have revised their ratings down, showing mixed sentiments within the market.
• NetEase has a current price of $151.57 with a market cap of $96.03 billion, reflecting a twelve-month high of $159.55 and a low of $75.88.

NetEase (NASDAQ:NTES - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Friday.

Several other brokerages have also recently weighed in on NTES. JPMorgan Chase & Co. cut NetEase from an "overweight" rating to a "neutral" rating and boosted their target price for the stock from $135.00 to $140.00 in a report on Monday, July 28th. Arete raised shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 price target on the stock in a research report on Wednesday, September 3rd. The Goldman Sachs Group set a $161.00 price target on shares of NetEase and gave the company a "buy" rating in a research report on Monday, September 15th. Arete Research upgraded shares of NetEase to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Zacks Research lowered shares of NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $132.00.

NetEase Price Performance

NTES traded down $1.66 on Friday, reaching $151.57. 383,813 shares of the company's stock were exchanged, compared to its average volume of 687,482. The stock has a market cap of $96.03 billion, a PE ratio of 20.51, a P/E/G ratio of 2.04 and a beta of 0.67. NetEase has a twelve month low of $75.88 and a twelve month high of $159.55. The stock's fifty day moving average price is $139.82 and its 200-day moving average price is $124.82.

Institutional Trading of NetEase

Several hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. lifted its holdings in NetEase by 20.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock worth $894,000 after buying an additional 1,495 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of NetEase in the first quarter valued at $398,000. Concurrent Investment Advisors LLC raised its stake in shares of NetEase by 5.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after acquiring an additional 132 shares in the last quarter. GAMMA Investing LLC raised its position in NetEase by 10,192.0% in the 1st quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock valued at $265,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in NetEase in the first quarter valued at approximately $2,554,000. Institutional investors and hedge funds 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.

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