NetEase, Inc. (NASDAQ:NTES) Upgraded to “Buy” at BidaskClub
NetEase, Inc. (NASDAQ:NTES) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research upgraded NetEase from a “hold” rating to a “strong-buy” rating and set a $346.00 target price on the stock in a report on Wednesday. Jefferies Group LLC restated a “buy” rating and set a $330.00 target price on shares of NetEase in a report on Friday, June 16th. Standpoint Research cut NetEase from a “buy” rating to a “reduce” rating and boosted their target price for the stock from $345.00 to $360.00 in a report on Wednesday, June 7th. Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $362.33 target price on the stock in a report on Tuesday, May 30th. Finally, Instinet cut NetEase from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $307.00 to $297.00 in a report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. NetEase currently has an average rating of “Buy” and an average price target of $295.52.
Shares of NetEase (NASDAQ:NTES) traded up 0.98% during midday trading on Friday, reaching $310.35. The company’s stock had a trading volume of 854,150 shares. NetEase has a one year low of $182.86 and a one year high of $337.55.
Hedge funds have recently made changes to their positions in the stock. Assetmark Inc. raised its stake in shares of NetEase by 51.0% in the first quarter. Assetmark Inc. now owns 367 shares of the technology company’s stock worth $104,000 after buying an additional 124 shares during the last quarter. Howe & Rusling Inc. raised its stake in shares of NetEase by 7.2% in the first quarter. Howe & Rusling Inc. now owns 715 shares of the technology company’s stock worth $203,000 after buying an additional 48 shares during the last quarter. Private Advisory Group LLC purchased a new stake in shares of NetEase during the first quarter worth about $205,000. Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in shares of NetEase during the first quarter worth about $227,000. Finally, AXA purchased a new stake in shares of NetEase during the first quarter worth about $227,000. 54.95% of the stock is currently owned by institutional investors.
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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