NetEase (NASDAQ:NTES) Receives “Equal Weight” Rating from Morgan Stanley

NetEase (NASDAQ:NTES)‘s stock had its “equal weight” rating restated by equities researchers at Morgan Stanley in a report released on Thursday, Marketbeat reports. They currently have a $100.00 price objective on the technology company’s stock, down from their prior price objective of $120.00. Morgan Stanley’s price target indicates a potential upside of 1.67% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 16th. HSBC lowered their target price on NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.50.

NetEase Price Performance

Shares of NTES opened at $98.36 on Thursday. NetEase has a 1 year low of $80.79 and a 1 year high of $118.89. The company has a market capitalization of $63.41 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58. The business has a 50-day moving average of $99.05 and a 200-day moving average of $102.10.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). NetEase had a return on equity of 24.36% and a net margin of 28.39%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. As a group, sell-side analysts anticipate that NetEase will post 7.07 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in NetEase by 226.4% in the 4th quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock valued at $176,677,000 after purchasing an additional 1,315,410 shares during the period. Tairen Capital Ltd bought a new position in shares of NetEase during the 4th quarter worth $164,307,000. Capital International Investors grew its stake in shares of NetEase by 1.1% during the 1st quarter. Capital International Investors now owns 1,052,966 shares of the technology company’s stock worth $108,950,000 after acquiring an additional 11,729 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of NetEase during the 1st quarter worth $103,658,000. Finally, WT Asset Management Ltd grew its stake in shares of NetEase by 381.1% during the 4th quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock worth $92,851,000 after acquiring an additional 789,499 shares during the period. Institutional investors own 11.07% of the company’s stock.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.