NetEase (NASDAQ:NTES) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They currently have a $363.82 target price on the technology company’s stock. Vetr‘s price objective indicates a potential upside of 5.53% from the stock’s current price.

NTES has been the subject of several other reports. Deutsche Bank set a $325.00 target price on NetEase and gave the company a “buy” rating in a report on Friday, October 6th. ValuEngine raised NetEase from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research raised NetEase from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 11th. Barclays initiated coverage on NetEase in a report on Wednesday, October 4th. They set an “equal weight” rating and a $260.00 price objective for the company. Finally, Nomura raised NetEase from a “neutral” rating to a “buy” rating and increased their price objective for the company from $297.00 to $428.00 in a report on Friday, November 17th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $327.05.

NetEase (NASDAQ NTES) traded up $23.26 during mid-day trading on Monday, hitting $344.77. The stock had a trading volume of 1,771,771 shares, compared to its average volume of 1,301,598. The company has a market capitalization of $42,471.79, a price-to-earnings ratio of 21.41, a PEG ratio of 1.80 and a beta of 0.93. NetEase has a 52 week low of $211.11 and a 52 week high of $375.10.

NetEase announced that its board has initiated a stock repurchase program on Wednesday, November 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Several large investors have recently bought and sold shares of NTES. AXA raised its position in shares of NetEase by 5.9% in the third quarter. AXA now owns 32,431 shares of the technology company’s stock worth $8,555,000 after buying an additional 1,820 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of NetEase in the third quarter worth $2,092,000. Cetera Advisor Networks LLC raised its position in shares of NetEase by 18.0% in the third quarter. Cetera Advisor Networks LLC now owns 1,556 shares of the technology company’s stock worth $411,000 after buying an additional 237 shares in the last quarter. TT International purchased a new stake in shares of NetEase in the third quarter worth $17,715,000. Finally, Janney Montgomery Scott LLC raised its position in shares of NetEase by 2.5% in the third quarter. Janney Montgomery Scott LLC now owns 7,021 shares of the technology company’s stock worth $1,852,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 50.54% of the company’s stock.

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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.

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

Analyst Recommendations for NetEase (NASDAQ:NTES)

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