NetEase (NTES) Downgraded by Vetr to “Buy”
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.
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.
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.
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