NetEase, Inc. (NASDAQ:NTES) Given Average Rating of “Moderate Buy” by Brokerages

NetEase, Inc. (NASDAQ:NTES) has earned an average rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $110.00.

Several analysts have commented on the stock. Bank of America increased their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Morgan Stanley increased their target price on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Benchmark reduced their price target on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Citigroup raised their price objective on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th.

Institutional Investors Weigh In On NetEase

A number of large investors have recently made changes to their positions in the stock. Guinness Asset Management LTD raised its stake in NetEase by 16.7% in the 3rd quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock worth $8,111,000 after acquiring an additional 12,410 shares during the last quarter. Assetmark Inc. increased its holdings in shares of NetEase by 27.3% in the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock valued at $3,597,000 after purchasing an additional 8,248 shares during the period. Cetera Investment Advisers raised its stake in shares of NetEase by 56.8% in the second quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company’s stock worth $1,637,000 after purchasing an additional 6,203 shares during the last quarter. WT Asset Management Ltd purchased a new stake in NetEase in the fourth quarter valued at approximately $2,624,000. Finally, SG Americas Securities LLC purchased a new stake in NetEase in the fourth quarter valued at approximately $654,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Price Performance

Shares of NASDAQ NTES opened at $109.14 on Thursday. NetEase has a 1-year low of $75.85 and a 1-year high of $114.50. The business has a fifty day moving average price of $96.25 and a 200 day moving average price of $88.97. The stock has a market capitalization of $70.09 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 3.45 and a beta of 0.58.

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.