Morgan Stanley Lowers NetEase (NASDAQ:NTES) Price Target to $120.00

NetEase (NASDAQ:NTES) had its target price decreased by equities research analysts at Morgan Stanley from $135.00 to $120.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price objective points to a potential upside of 30.22% from the stock’s previous close.

Separately, StockNews.com upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $126.00.

NetEase Price Performance

NASDAQ NTES opened at $92.15 on Friday. The firm has a market cap of $59.41 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 0.84 and a beta of 0.58. NetEase has a one year low of $80.79 and a one year high of $118.89. The stock’s 50 day simple moving average is $104.89 and its 200 day simple moving average is $103.47.

NetEase (NASDAQ:NTES) last released its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. NetEase had a return on equity of 24.36% and a net margin of 28.39%. As a group, equities analysts expect that NetEase will post 7.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NTES. Tairen Capital Ltd acquired a new position in shares of NetEase in the 4th quarter valued at $164,307,000. Wellington Management Group LLP lifted its stake in shares of 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. WT Asset Management Ltd lifted its stake in shares of NetEase by 381.1% in the 4th quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after purchasing an additional 789,499 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of NetEase by 98.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,484,772 shares of the technology company’s stock valued at $143,563,000 after purchasing an additional 738,249 shares during the period. Finally, FIL Ltd lifted its stake in shares of NetEase by 73.2% in the 4th quarter. FIL Ltd now owns 1,572,418 shares of the technology company’s stock valued at $146,486,000 after purchasing an additional 664,577 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.