NetEase (NASDAQ:NTES) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $375.44 price objective on the technology company’s stock. Vetr‘s price objective suggests a potential upside of 12.11% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. UBS Group downgraded shares of NetEase from a “buy” rating to a “neutral” rating in a research note on Monday, October 30th. Nomura upgraded shares of NetEase from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $297.00 to $428.00 in a research note on Friday, November 17th. Zacks Investment Research upgraded shares of NetEase from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Deutsche Bank set a $325.00 price objective on shares of NetEase and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $315.00 price target on shares of NetEase in a research note on Tuesday, October 3rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $330.56.

Shares of NetEase (NASDAQ NTES) traded down $4.15 during trading on Wednesday, hitting $334.90. 914,800 shares of the stock traded hands, compared to its average volume of 1,370,000. The firm has a market capitalization of $44,240.00, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94. NetEase has a twelve month low of $232.14 and a twelve month high of $377.64.

NetEase announced that its board has authorized a share buyback program on Wednesday, November 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Several large investors have recently modified their holdings of the company. OLD National Bancorp IN boosted its stake in shares of NetEase by 0.4% in the 2nd quarter. OLD National Bancorp IN now owns 930 shares of the technology company’s stock valued at $280,000 after purchasing an additional 4 shares in the last quarter. American International Group Inc. boosted its stake in shares of NetEase by 0.3% in the 3rd quarter. American International Group Inc. now owns 4,396 shares of the technology company’s stock valued at $1,058,000 after purchasing an additional 13 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of NetEase by 1.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 1,216 shares of the technology company’s stock valued at $293,000 after purchasing an additional 17 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of NetEase by 1.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,366 shares of the technology company’s stock valued at $411,000 after purchasing an additional 17 shares in the last quarter. Finally, Financial Counselors Inc. boosted its stake in shares of NetEase by 1.7% in the 2nd quarter. Financial Counselors Inc. now owns 1,211 shares of the technology company’s stock valued at $364,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 50.42% 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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