NetEase (NASDAQ:NTES) Downgraded by StockNews.com

NetEase (NASDAQ:NTES) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.

NTES has been the subject of several other reports. HSBC reduced their price target on NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Morgan Stanley reduced their price target on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $126.00.

NetEase Stock Performance

Shares of NTES stock opened at $93.47 on Monday. NetEase has a 52-week low of $80.79 and a 52-week high of $118.89. The firm has a market capitalization of $60.26 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.87 and a beta of 0.58. The stock has a 50 day moving average price of $101.77 and a 200 day moving average price of $102.75.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results 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 business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. As a group, sell-side analysts forecast that NetEase will post 7.04 EPS for the current year.

Institutional Trading of NetEase

Several large investors have recently added to or reduced their stakes in NTES. Tairen Capital Ltd purchased a new stake in NetEase during the 4th quarter valued at about $164,307,000. Wellington Management Group LLP boosted its position in NetEase by 226.4% during the fourth quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock worth $176,677,000 after purchasing an additional 1,315,410 shares in the last quarter. WT Asset Management Ltd boosted its position in NetEase by 381.1% during the fourth quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock worth $92,851,000 after purchasing an additional 789,499 shares in the last quarter. Aspex Management HK Ltd purchased a new position in NetEase during the fourth quarter worth approximately $59,354,000. Finally, Coatue Management LLC acquired a new position in shares of NetEase during the fourth quarter valued at approximately $52,532,000. Hedge funds and other 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.