NetEase (NASDAQ:NTES) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of NetEase (NASDAQ:NTES) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

A number of other equities analysts also recently issued reports on the company. Arete raised NetEase from a “sell” rating to a “buy” rating and set a $150.00 price target for the company in a report on Wednesday, September 3rd. JPMorgan Chase & Co. upgraded shares of NetEase from a “neutral” rating to an “overweight” rating and upped their target price for the company from $138.00 to $190.00 in a report on Friday, October 10th. The Goldman Sachs Group set a $161.00 price target on shares of NetEase and gave the stock a “buy” rating in a research note on Monday, September 15th. Arete Research raised shares of NetEase to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Barclays set a $120.00 price objective on shares of NetEase and gave the company an “equal weight” rating in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.33.

NetEase Price Performance

NTES opened at $137.73 on Friday. The business has a fifty day moving average price of $147.50 and a 200 day moving average price of $135.07. NetEase has a 12 month low of $84.97 and a 12 month high of $159.55. The stock has a market capitalization of $87.26 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.91 and a beta of 0.65.

Institutional Trading of NetEase

Institutional investors have recently bought and sold shares of the company. NewSquare Capital LLC raised its holdings in shares of NetEase by 137.2% in the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after acquiring an additional 107 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in NetEase during the 1st quarter worth about $26,000. Private Trust Co. NA raised its stake in NetEase by 266.0% in the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. USA Financial Formulas purchased a new position in NetEase in the 2nd quarter valued at about $30,000. Finally, Reyes Financial Architecture Inc. boosted its stake in shares of NetEase by 1,189.5% during the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after purchasing an additional 226 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Company Profile

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.