Research analysts at Tigress Financial started coverage on shares of NetEase (NASDAQ:NTES) in a report released on Friday, TipRanks reports. The brokerage set a “buy” rating on the technology company’s stock.
Several other research firms have also commented on NTES. BidaskClub upgraded shares of NetEase from a “strong sell” rating to a “sell” rating in a research report on Monday, August 12th. Jefferies Financial Group initiated coverage on shares of NetEase in a research report on Monday, August 5th. They set a “buy” rating and a $274.60 price target for the company. Benchmark restated a “buy” rating and set a $305.00 price target (up previously from $295.00) on shares of NetEase in a research report on Thursday, May 16th. Barclays upped their price target on shares of NetEase from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Finally, TH Capital increased their target price on shares of NetEase from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. NetEase presently has a consensus rating of “Buy” and an average target price of $277.34.
Shares of NetEase stock traded up $3.77 during trading on Friday, hitting $262.25. 576,823 shares of the stock were exchanged, compared to its average volume of 735,379. The stock’s fifty day moving average is $246.50 and its 200 day moving average is $251.34. The stock has a market cap of $33.95 billion, a PE ratio of 38.17, a P/E/G ratio of 0.78 and a beta of 0.87. NetEase has a 12 month low of $184.60 and a 12 month high of $289.68.
Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in NetEase by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 446,824 shares of the technology company’s stock valued at $105,251,000 after purchasing an additional 12,241 shares during the period. USS Investment Management Ltd raised its position in shares of NetEase by 35.2% during the 1st quarter. USS Investment Management Ltd now owns 192,000 shares of the technology company’s stock worth $46,350,000 after purchasing an additional 50,000 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of NetEase during the 1st quarter worth about $251,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of NetEase during the 1st quarter worth about $224,000. Finally, Investec Asset Management LTD raised its position in shares of NetEase by 0.3% during the 1st quarter. Investec Asset Management LTD now owns 310,595 shares of the technology company’s stock worth $74,993,000 after purchasing an additional 879 shares during the last quarter. 45.19% of the stock is owned by institutional investors.
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
Featured Story: Google Finance Portfolio Tips and Tricks
Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.