NetEase, Inc. (NTES) Given Outperform Rating at Credit Suisse Group
Credit Suisse Group reiterated their outperform rating on shares of NetEase, Inc. (NASDAQ:NTES) in a report published on Tuesday morning. Credit Suisse Group currently has a $315.00 price target on the technology company’s stock.
A number of other research analysts also recently weighed in on NTES. BidaskClub downgraded NetEase from a buy rating to a hold rating in a research note on Wednesday, August 16th. Jefferies Group LLC lowered NetEase from a buy rating to a hold rating and lowered their price target for the stock from $330.00 to $290.00 in a research report on Tuesday. Zacks Investment Research cut NetEase from a hold rating to a strong sell rating in a research note on Wednesday, August 16th. ValuEngine cut NetEase from a buy rating to a hold rating in a research note on Friday, September 1st. Finally, Vetr raised NetEase from a buy rating to a strong-buy rating and set a $320.50 price objective for the company in a report on Wednesday, September 20th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. NetEase has an average rating of Hold and a consensus target price of $302.72.
NetEase (NASDAQ:NTES) traded down 0.50% during trading on Tuesday, hitting $270.82. 924,533 shares of the stock were exchanged. NetEase has a 1-year low of $211.11 and a 1-year high of $337.55.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of NetEase by 1,571.4% during the 1st quarter. BlackRock Inc. now owns 5,039,176 shares of the technology company’s stock worth $1,431,127,000 after buying an additional 4,737,686 shares during the period. Artisan Partners Limited Partnership acquired a new position in NetEase in the 2nd quarter valued at about $287,603,000. FMR LLC grew its stake in NetEase by 63.3% in the 2nd quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock valued at $652,551,000 after buying an additional 841,692 shares during the last quarter. Fisher Asset Management LLC grew its stake in NetEase by 142.3% in the 2nd quarter. Fisher Asset Management LLC now owns 839,739 shares of the technology company’s stock valued at $252,451,000 after buying an additional 493,209 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in NetEase by 20.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock valued at $819,517,000 after buying an additional 456,300 shares during the last quarter. Institutional investors own 50.38% of the company’s stock.
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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