NetEase, Inc. (NASDAQ:NTES) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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 research firms have also recently issued reports on NTES. Vetr cut NetEase from a “strong-buy” rating to a “buy” rating and set a $327.04 price target for the company. in a research note on Monday, September 18th. Deutsche Bank AG set a $325.00 price target on NetEase and gave the stock a “buy” rating in a research note on Friday, October 6th. Barclays PLC initiated coverage on NetEase in a research note on Wednesday, October 4th. They issued an “equal weight” rating and a $260.00 price target for the company. Jefferies Group LLC cut NetEase from a “buy” rating to a “hold” rating and decreased their price target for the stock from $330.00 to $290.00 in a research note on Tuesday, October 3rd. Finally, Bank of America Corporation increased their price target on NetEase from $347.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. NetEase presently has an average rating of “Hold” and a consensus price target of $326.79.

NetEase (NASDAQ NTES) opened at $345.00 on Wednesday. NetEase has a 52 week low of $211.11 and a 52 week high of $375.10. The stock has a market capitalization of $45,570.00, a price-to-earnings ratio of 24.47, a PEG ratio of 1.55 and a beta of 0.93.

NetEase declared that its board has authorized a share buyback plan on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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Several large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. boosted its position in shares of NetEase by 1.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,366 shares of the technology company’s stock valued at $411,000 after purchasing an additional 17 shares during the period. Financial Counselors Inc. boosted its position in shares of NetEase by 1.7% in the 2nd quarter. Financial Counselors Inc. now owns 1,211 shares of the technology company’s stock valued at $364,000 after purchasing an additional 20 shares during the period. HPM Partners LLC boosted its position in shares of NetEase by 2.3% in the 2nd quarter. HPM Partners LLC now owns 1,334 shares of the technology company’s stock valued at $401,000 after purchasing an additional 30 shares during the period. US Bancorp DE boosted its position in shares of NetEase by 1.3% in the 2nd quarter. US Bancorp DE now owns 4,041 shares of the technology company’s stock valued at $1,215,000 after purchasing an additional 50 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of NetEase by 21.4% in the 2nd quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock valued at $118,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 50.70% of the company’s stock.

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.

Analyst Recommendations for NetEase (NASDAQ:NTES)

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