NetEase Inc (NASDAQ:NTES) has received a consensus rating of “Buy” from the sixteen analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $277.34.
NTES has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $305.00 price objective (up from $295.00) on shares of NetEase in a report on Thursday, May 16th. Jefferies Financial Group initiated coverage on NetEase in a report on Monday, August 5th. They issued a “buy” rating and a $274.60 price objective on the stock. Tigress Financial initiated coverage on NetEase in a report on Friday, August 16th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded NetEase from a “hold” rating to a “buy” rating and set a $238.00 price objective on the stock in a report on Thursday, August 8th. Finally, China Renaissance Securities upgraded NetEase from a “hold” rating to a “buy” rating in a report on Thursday, May 16th.
NTES stock traded up $0.12 during trading on Friday, hitting $247.23. The stock had a trading volume of 549,314 shares, compared to its average volume of 935,001. NetEase has a twelve month low of $184.60 and a twelve month high of $289.68. The stock has a market capitalization of $32.45 billion, a P/E ratio of 35.99, a PEG ratio of 0.76 and a beta of 0.87. The company’s 50-day moving average price is $245.70 and its two-hundred day moving average price is $251.46.
Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in shares of NetEase during the 2nd quarter worth approximately $47,000. Quantamental Technologies LLC acquired a new position in shares of NetEase during the 2nd quarter worth approximately $49,000. Huntington National Bank raised its position in shares of NetEase by 101.0% during the 2nd quarter. Huntington National Bank now owns 209 shares of the technology company’s stock valued at $53,000 after buying an additional 105 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of NetEase during the 2nd quarter valued at approximately $107,000. Finally, Close Asset Management Ltd raised its position in shares of NetEase by 233.3% during the 1st quarter. Close Asset Management Ltd now owns 500 shares of the technology company’s stock valued at $121,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 45.19% of the company’s stock.
NetEase Company Profile
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.
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