NetEase Inc (NASDAQ:NTES) Receives Consensus Rating of “Buy” from Analysts
Shares of NetEase Inc (NASDAQ:NTES) have been assigned a consensus recommendation of “Buy” from the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $289.21.
A number of equities analysts have recently issued reports on NTES shares. Citigroup increased their price objective on shares of NetEase from $301.00 to $326.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Goldman Sachs Group cut shares of NetEase from a “buy” rating to a “neutral” rating in a research report on Sunday, August 11th. ValuEngine cut shares of NetEase from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of NetEase from a “hold” rating to a “buy” rating and set a $238.00 price objective on the stock in a research report on Thursday, August 8th. Finally, Nomura increased their price objective on shares of NetEase from $288.00 to $317.00 and gave the stock a “buy” rating in a research report on Monday, September 9th.
Shares of NTES stock traded down $4.13 on Friday, reaching $296.00. 21,506 shares of the company were exchanged, compared to its average volume of 719,297. The company has a market cap of $37.63 billion, a price-to-earnings ratio of 43.53, a PEG ratio of 0.85 and a beta of 0.81. The company has a 50-day moving average of $275.66 and a 200-day moving average of $262.41. NetEase has a one year low of $208.63 and a one year high of $309.24.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new stake in NetEase in the 2nd quarter valued at about $47,000. Quantamental Technologies LLC purchased a new stake in NetEase in the 2nd quarter valued at about $49,000. FNY Investment Advisers LLC purchased a new stake in NetEase in the 3rd quarter valued at about $51,000. Huntington National Bank increased its stake in NetEase by 101.0% in the 2nd quarter. Huntington National Bank now owns 209 shares of the technology company’s stock valued at $53,000 after buying an additional 105 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in NetEase in the 2nd quarter valued at about $107,000. 47.06% of the stock is currently owned by institutional investors and hedge funds.
NetEase Company Profile
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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