NetEase Inc. (NTES) Raised to “Buy” at CICC Research
NetEase Inc. (NASDAQ:NTES) was upgraded by investment analysts at CICC Research to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $345.00 target price on the stock. CICC Research’s price target indicates a potential upside of 31.97% from the stock’s current price.
NTES has been the topic of a number of other reports. Brean Capital reaffirmed a “buy” rating on shares of NetEase in a report on Tuesday, August 2nd. Zacks Investment Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 27th. Vetr lowered shares of NetEase from a “buy” rating to a “hold” rating and set a $212.23 target price on the stock. in a report on Monday, August 15th. Deutsche Bank AG upped their target price on shares of NetEase from $190.00 to $207.00 and gave the stock a “buy” rating in a report on Friday, June 24th. Finally, Macquarie upped their target price on shares of NetEase from $256.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, September 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. NetEase presently has a consensus rating of “Buy” and an average target price of $229.34.
NetEase (NASDAQ:NTES) traded up 2.84% during trading on Wednesday, hitting $261.42. 2,036,734 shares of the stock were exchanged. NetEase has a 52 week low of $129.60 and a 52 week high of $270.93. The firm has a market cap of $34.28 billion, a PE ratio of 25.03 and a beta of 1.04. The firm’s 50-day moving average is $234.48 and its 200 day moving average is $186.37.
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NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $2.61 by $1.06. NetEase had a net margin of 29.34% and a return on equity of 31.47%. Analysts expect that NetEase will post $12.55 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. AXA increased its position in NetEase by 60.0% in the second quarter. AXA now owns 800 shares of the company’s stock worth $155,000 after buying an additional 300 shares during the last quarter. Advisor Group Inc. acquired a new position in NetEase during the second quarter worth about $200,000. Oasis Management Co Ltd. acquired a new position in NetEase during the first quarter worth about $201,000. HBK Sorce Advisory LLC acquired a new position in NetEase during the second quarter worth about $232,000. Finally, Janney Montgomery Scott LLC acquired a new position in NetEase during the second quarter worth about $236,000. Institutional investors and hedge funds own 59.57% of the company’s stock.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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