NetEase (NASDAQ:NTES) was upgraded by equities research analysts at CLSA from a “sell” rating to an “underperform” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.
A number of other analysts also recently weighed in on the company. Goldman Sachs Group reiterated a “buy” rating and set a $432.00 price target (up from $340.00) on shares of NetEase in a report on Thursday, January 18th. They noted that the move was a valuation call. UBS Group downgraded NetEase from a “buy” rating to a “neutral” rating in a report on Monday, October 30th. Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $363.00 price target for the company in a report on Tuesday, January 30th. Nomura upgraded NetEase from a “neutral” rating to a “buy” rating and increased their price target for the stock from $297.00 to $428.00 in a report on Friday, November 17th. Finally, Zacks Investment Research upgraded NetEase from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $349.14.
NetEase (NTES) traded down $19.39 during midday trading on Thursday, reaching $289.61. The company had a trading volume of 3,054,094 shares, compared to its average volume of 1,433,727. The firm has a market capitalization of $40,820.00, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.60 and a beta of 0.75. NetEase has a 1-year low of $252.54 and a 1-year high of $377.64.
NetEase declared that its board has initiated a share buyback 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. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds have recently added to or reduced their stakes in NTES. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of NetEase by 117.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after purchasing an additional 267 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of NetEase by 22.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after purchasing an additional 98 shares in the last quarter. Cibc Bank USA bought a new position in shares of NetEase during the 4th quarter worth about $204,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of NetEase during the 2nd quarter worth about $218,000. Finally, Hikari Power Ltd bought a new position in shares of NetEase during the 4th quarter worth about $242,000. 48.89% of the stock is currently owned by institutional investors.
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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