Weiss Ratings Reaffirms Hold (C) Rating for NetEase (NASDAQ:NTES)

Key Points

• Weiss Ratings has reaffirmed a Hold (C) rating for NetEase (NASDAQ:NTES), indicating a cautious outlook for the stock.
• Other brokerages have varied opinions, with Arete upgrading it to a Buy rating and setting a price target of $150.00, while Zacks Research downgraded it to a Hold rating.
• NetEase shares have seen significant volatility, with a fifty-two week low of $75.88 and a high of $159.55, reflecting a market capitalization of $97.53 billion.

NetEase (NASDAQ:NTES - Get Free Report)'s stock had its "hold (c)" rating reissued by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently weighed in on NTES. Arete upgraded 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. Morgan Stanley reissued an "overweight" rating and set a $170.00 price objective on shares of NetEase in a research note on Wednesday. Arete Research raised NetEase to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, Zacks Research lowered NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, NetEase currently has an average rating of "Moderate Buy" and an average price target of $137.30.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $153.93 on Wednesday. The company has a market capitalization of $97.53 billion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 2.00 and a beta of 0.67. NetEase has a fifty-two week low of $75.88 and a fifty-two week high of $159.55. The company's 50-day moving average is $141.04 and its 200 day moving average is $125.89.

Hedge Funds Weigh In On NetEase

Institutional investors and hedge funds have recently modified their holdings of the stock. NewSquare Capital LLC increased its holdings in NetEase by 137.2% in the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company's stock worth $25,000 after buying an additional 107 shares in the last quarter. Private Trust Co. NA increased its holdings in NetEase by 266.0% in the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company's stock worth $26,000 after buying an additional 141 shares in the last quarter. USA Financial Formulas purchased a new position in NetEase in the second quarter worth about $30,000. Reyes Financial Architecture Inc. boosted its position in NetEase by 1,189.5% in 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 during the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in NetEase in the second quarter worth about $33,000. 11.07% of the stock is currently owned by 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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