NetEase Inc. (NTES) Upgraded to “Buy” at CICC Research
A number of other brokerages also recently weighed in on NTES. Vetr downgraded NetEase from a buy rating to a hold rating and set a $266.16 target price on the stock. in a research note on Monday. Jefferies Group began coverage on shares of NetEase in a report on Thursday, September 29th. They issued a hold rating and a $245.00 price target on the stock. Credit Suisse Group AG began coverage on shares of NetEase in a report on Friday, August 19th. They issued a neutral rating and a $230.00 price target on the stock. Credit Agricole SA raised shares of NetEase from an underperform rating to an outperform rating and set a $272.00 price target on the stock in a report on Monday, October 3rd. Finally, Deutsche Bank AG lifted their price target on shares of NetEase from $190.00 to $207.00 and gave the stock a buy rating in a report on Friday, June 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $233.57.
Shares of NetEase (NASDAQ:NTES) traded down 2.51% during midday trading on Wednesday, reaching $254.85. The company had a trading volume of 380,240 shares. NetEase has a one year low of $129.60 and a one year high of $270.93. The company has a 50 day moving average price of $235.25 and a 200-day moving average price of $186.91. The firm has a market capitalization of $33.41 billion, a P/E ratio of 24.40 and a beta of 1.04.
NetEase (NASDAQ:NTES) last announced its earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $1.06. NetEase had a return on equity of 31.47% and a net margin of 29.34%. On average, analysts anticipate that NetEase will post $12.55 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. CIBC World Markets Inc. bought a new position in NetEase during the first quarter worth about $316,000. BlackRock Group LTD increased its position in NetEase by 5.7% in the first quarter. BlackRock Group LTD now owns 597,028 shares of the company’s stock worth $85,722,000 after buying an additional 32,191 shares during the last quarter. BlackRock Fund Advisors increased its position in NetEase by 7.0% in the first quarter. BlackRock Fund Advisors now owns 593,151 shares of the company’s stock worth $85,165,000 after buying an additional 38,570 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in NetEase by 17.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,320,917 shares of the company’s stock worth $189,657,000 after buying an additional 199,253 shares during the last quarter. Finally, BlackRock Japan Co. Ltd increased its position in NetEase by 13.4% in the first quarter. BlackRock Japan Co. Ltd now owns 71,514 shares of the company’s stock worth $10,268,000 after buying an additional 8,461 shares during the last quarter. Institutional investors own 59.57% of the company’s stock.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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