NetEase, Inc. (NASDAQ:NTES) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “NetEase, Inc. is an Internet technology company engaged in the development of applications, services and other technologies for the Internet in China. It provides online gaming services that include in-house developed massively multi-player online role-playing games and licensed titles. NetEase also provides online advertising, community services, entertainment content, free e-mail services and micro-blogging services. The Company also offers wireless value-added services such as news and information content, matchmaking services, music and photos from the web that are sent over SMS, MMS, WAP, IVR and Color Ring-back Tone technologies. NetEase, Inc., formerly known as NetEase.com, Inc., is based in Beijing, the People’s Republic of China. “

Several other equities analysts have also recently issued reports on NTES. BidaskClub cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $330.00 target price on shares of NetEase in a research note on Friday, June 16th. Deutsche Bank AG reiterated a “buy” rating and issued a $343.00 target price (up from $300.00) on shares of NetEase in a research note on Tuesday, July 25th. CLSA cut shares of NetEase from an “outperform” rating to an “underperform” rating in a research note on Thursday, August 10th. Finally, ValuEngine cut shares of NetEase from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. NetEase has a consensus rating of “Hold” and a consensus target price of $298.82.

Shares of NetEase (NTES) traded up 2.90% during mid-day trading on Wednesday, hitting $279.65. 971,173 shares of the stock were exchanged. NetEase has a 52-week low of $211.11 and a 52-week high of $337.55. The stock’s 50-day moving average price is $271.57 and its 200-day moving average price is $285.83. The company has a market cap of $36.86 billion, a P/E ratio of 18.13 and a beta of 0.94.

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Several institutional investors have recently added to or reduced their stakes in the company. Perpetual Ltd purchased a new stake in shares of NetEase during the second quarter worth $276,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of NetEase by 39.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 1,300 shares of the technology company’s stock worth $391,000 after buying an additional 370 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in shares of NetEase during the second quarter worth $253,000. National Asset Management Inc. grew its holdings in shares of NetEase by 8.5% during the second quarter. National Asset Management Inc. now owns 1,742 shares of the technology company’s stock worth $524,000 after buying an additional 136 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in shares of NetEase by 10.0% during the second quarter. Westwood Holdings Group Inc. now owns 245,589 shares of the technology company’s stock worth $73,831,000 after buying an additional 22,327 shares in the last quarter. 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.

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