Zacks Investment Research upgraded shares of NetEase (NASDAQ:NTES) from a strong sell rating to a hold rating in a research report released 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. “

NTES has been the subject of several other reports. Deutsche Bank set a $325.00 price objective on NetEase and gave the company a buy rating in a research note on Friday, October 6th. ValuEngine raised NetEase from a hold rating to a buy rating in a research note on Friday, November 10th. Vetr raised NetEase from a hold rating to a buy rating and set a $363.82 price objective for the company in a research note on Monday, January 1st. Barclays initiated coverage on NetEase in a research note on Wednesday, October 4th. They issued an equal weight rating and a $260.00 price objective for the company. Finally, Nomura raised NetEase from a neutral rating to a buy rating and raised their price objective for the company from $297.00 to $428.00 in a research note on Friday, November 17th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. NetEase has a consensus rating of Hold and an average target price of $348.96.

NetEase (NTES) traded down $2.21 during midday trading on Wednesday, reaching $322.19. The company had a trading volume of 1,306,779 shares, compared to its average volume of 1,360,000. NetEase has a 12-month low of $233.50 and a 12-month high of $377.64. The stock has a market cap of $42,560.00, a P/E ratio of 20.98, a P/E/G ratio of 1.54 and a beta of 0.94.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Wednesday, November 15th. The technology company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.20. NetEase had a return on equity of 31.84% and a net margin of 25.34%. equities research analysts forecast that NetEase will post 12.85 EPS for the current year.

NetEase declared that its board has authorized a stock repurchase program on Wednesday, November 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

A number of institutional investors have recently added to or reduced their stakes in NTES. Ladenburg Thalmann Financial Services Inc. increased its position in NetEase by 117.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after buying an additional 267 shares in the last quarter. PNC Financial Services Group Inc. increased its position in NetEase by 22.4% during the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after buying an additional 98 shares in the last quarter. Mariner Wealth Advisors LLC purchased a new position in NetEase during the second quarter worth $203,000. Yorktown Management & Research Co Inc purchased a new position in NetEase during the second quarter worth $210,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in NetEase during the second quarter worth $218,000. 50.34% of the stock is owned by institutional investors.

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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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