Zacks Investment Research upgraded shares of NetEase, Inc. (NASDAQ:NTES) from a hold rating to a strong-buy rating in a report released on Wednesday. The firm currently has $346.00 price target on the technology company’s stock.

According to Zacks, “NetEase, Inc. is an Internet technology company engaged in the development of applications, services and other technologies for the Internet in China. It provides online gaming services that include in-house developed massively multi-player online role-playing games and licensed titles. NetEase also provides online advertising, community services, entertainment content, free e-mail services and micro-blogging services. The Company also offers wireless value-added services such as news and information content, matchmaking services, music and photos from the web that are sent over SMS, MMS, WAP, IVR and Color Ring-back Tone technologies. NetEase, Inc., formerly known as NetEase.com, Inc., is based in Beijing, the People’s Republic of China. “

Several other equities research analysts also recently weighed in on the stock. Benchmark Co. started coverage on shares of NetEase in a research report on Tuesday, April 18th. They issued a buy rating and a $325.00 target price for the company. Vetr raised shares of NetEase from a buy rating to a strong-buy rating and set a $334.49 target price for the company in a research report on Tuesday, March 14th. Jefferies Group LLC reissued a buy rating and issued a $300.00 target price on shares of NetEase in a research report on Wednesday, April 26th. BidaskClub downgraded shares of NetEase from a strong-buy rating to a buy rating in a research report on Friday, June 16th. Finally, Nomura reissued a hold rating and issued a $297.00 target price (down previously from $305.00) on shares of NetEase in a research report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. NetEase has a consensus rating of Buy and a consensus price target of $295.52.

NetEase (NTES) traded down 2.69% during trading on Wednesday, reaching $301.99. 1,247,958 shares of the company’s stock traded hands. NetEase has a 1-year low of $193.27 and a 1-year high of $337.55.

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A number of hedge funds and other institutional investors have recently bought and sold shares of NTES. Assetmark Inc. raised its position in NetEase by 51.0% in the first quarter. Assetmark Inc. now owns 367 shares of the technology company’s stock worth $104,000 after buying an additional 124 shares during the last quarter. Howe & Rusling Inc. raised its position in NetEase by 7.2% in the first quarter. Howe & Rusling Inc. now owns 715 shares of the technology company’s stock worth $203,000 after buying an additional 48 shares during the last quarter. Private Advisory Group LLC purchased a new position in NetEase during the first quarter worth about $205,000. Dixon Hubard Feinour & Brown Inc. VA purchased a new position in NetEase during the first quarter worth about $227,000. Finally, AXA purchased a new position in NetEase during the first quarter worth about $227,000. 54.83% of the stock is owned by hedge funds and other institutional investors.

About NetEase

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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