NetEase (NASDAQ:NTES) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a report released on Tuesday. The firm presently has a $362.28 price target on the technology company’s stock. Vetr‘s price objective would indicate a potential upside of 13.93% from the stock’s previous close.

Several other equities analysts have also weighed in on NTES. Zacks Investment Research lowered shares of NetEase from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. CLSA lowered shares of NetEase from an “outperform” rating to an “underperform” rating in a research report on Thursday, August 10th. BidaskClub upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. ValuEngine downgraded shares of NetEase from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Jefferies Group downgraded shares of NetEase from a “buy” rating to a “hold” rating and dropped their price objective for the company from $330.00 to $290.00 in a report on Tuesday, October 3rd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. NetEase presently has an average rating of “Hold” and an average price target of $326.95.

NetEase (NASDAQ:NTES) traded down $10.92 on Tuesday, reaching $317.99. 1,397,617 shares of the company traded hands, compared to its average volume of 1,297,935. The company has a market capitalization of $42,787.51, a price-to-earnings ratio of 21.57, a P/E/G ratio of 1.82 and a beta of 0.93. NetEase has a one year low of $211.11 and a one year high of $375.10.

NetEase announced that its board has approved a stock buyback plan on Wednesday, November 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Group LLC lifted its holdings in shares of NetEase by 3.3% in the second quarter. Renaissance Group LLC now owns 51,703 shares of the technology company’s stock worth $15,543,000 after buying an additional 1,656 shares in the last quarter. Aberdeen Asset Management PLC UK lifted its holdings in shares of NetEase by 64.7% in the second quarter. Aberdeen Asset Management PLC UK now owns 72,450 shares of the technology company’s stock worth $21,781,000 after buying an additional 28,450 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of NetEase by 25.9% in the second quarter. Stifel Financial Corp now owns 3,032 shares of the technology company’s stock worth $919,000 after buying an additional 624 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of NetEase by 9.5% in the third quarter. First Trust Advisors LP now owns 319,517 shares of the technology company’s stock worth $84,292,000 after buying an additional 27,771 shares in the last quarter. Finally, Fox Run Management L.L.C. lifted its holdings in shares of NetEase by 228.6% in the third quarter. Fox Run Management L.L.C. now owns 2,300 shares of the technology company’s stock worth $607,000 after buying an additional 1,600 shares in the last quarter. 50.54% of the stock is currently owned by institutional investors and hedge funds.

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About NetEase

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for NetEase (NASDAQ:NTES)

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