NetEase, Inc. (NASDAQ:NTES) has been given an average rating of “Hold” by the twenty research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $297.82.

Several analysts have recently weighed in on NTES shares. Vetr lowered NetEase from a “strong-buy” rating to a “buy” rating and set a $327.04 price objective for the company. in a report on Monday, September 18th. Deutsche Bank AG set a $325.00 price objective on NetEase and gave the company a “buy” rating in a report on Friday, October 6th. Barclays PLC started coverage on NetEase in a report on Wednesday, October 4th. They issued an “equal weight” rating and a $260.00 price objective for the company. Zacks Investment Research lowered NetEase from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Jefferies Group LLC lowered NetEase from a “buy” rating to a “hold” rating and cut their price objective for the company from $330.00 to $290.00 in a report on Tuesday, October 3rd.

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Shares of NetEase (NTES) traded down 0.20% on Wednesday, hitting $268.80. The stock had a trading volume of 1,057,995 shares. The company’s 50-day moving average price is $271.55 and its 200 day moving average price is $286.14. NetEase has a 12-month low of $211.11 and a 12-month high of $337.55. The firm has a market cap of $35.43 billion, a P/E ratio of 17.42 and a beta of 0.94.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in NetEase by 1,571.4% during the first quarter. BlackRock Inc. now owns 5,039,176 shares of the technology company’s stock valued at $1,431,127,000 after buying an additional 4,737,686 shares during the period. Renaissance Technologies LLC raised its position in NetEase by 20.1% during the second quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock valued at $819,517,000 after buying an additional 456,300 shares during the period. Orbis Allan Gray Ltd raised its position in NetEase by 17.9% during the second quarter. Orbis Allan Gray Ltd now owns 2,459,381 shares of the technology company’s stock valued at $739,364,000 after buying an additional 372,510 shares during the period. FMR LLC raised its position in NetEase by 63.3% during the second quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock valued at $652,551,000 after buying an additional 841,692 shares during the period. Finally, State Street Corp raised its position in NetEase by 8.8% during the first quarter. State Street Corp now owns 1,712,268 shares of the technology company’s stock valued at $486,279,000 after buying an additional 137,801 shares during the period. 50.38% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for NetEase (NASDAQ:NTES)

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