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Netease.com (NASDAQ:NTES) was downgraded by Morgan Stanley to an “overweight” rating in a research note issued on Thursday, StockRatingsNetwork reports. They currently have a $79.00 price objective on the stock, up from their previous price objective of $77.00. Morgan Stanley’s target price would indicate a potential upside of 9.89% from the company’s current price.

The analysts wrote, “We reiterate OW given its quality game pipeline, attractive valuations and strong cash flow. NetEase is making inroads into mobile games with self-developed and licensed titles. Game out-licensing could turn into a new revenue driver.”

Netease.com (NASDAQ:NTES) opened at 71.55 on Thursday. Netease.com has a 1-year low of $49.51 and a 1-year high of $84.35. The stock has a 50-day moving average of $76.76 and a 200-day moving average of $71.33. The company has a market cap of $9.302 billion and a price-to-earnings ratio of 13.91.

Netease.com (NASDAQ:NTES) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.15. The company had revenue of $427.00 million for the quarter, compared to the consensus estimate of $407.79 million. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, analysts predict that Netease.com will post $5.49 earnings per share for the current fiscal year.

NetEase, Inc is a holding company. The Company is an Internet technology company. The Company provides its Internet and wireless value-added applications, services and technologies and advertising services to Guangzhou NetEase and Guangyitong Advertising and they operate the NetEase Websites and the online advertising business.

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