NetEase (NTES) Downgraded by ValuEngine

NetEase (NASDAQ:NTES) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other equities analysts have also recently commented on NTES. Zacks Investment Research raised shares of NetEase from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 17th. Goldman Sachs reaffirmed a “buy” rating and set a $432.00 price objective (up previously from $340.00) on shares of NetEase in a research note on Thursday, January 18th. They noted that the move was a valuation call. Vetr cut shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $355.00 price objective for the company. in a research note on Monday, January 22nd. BidaskClub cut shares of NetEase from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 23rd. Finally, Benchmark boosted their price objective on shares of NetEase to $355.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Six equities research analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $334.13.

NetEase traded down $19.84, hitting $246.16, during mid-day trading on Thursday, Marketbeat.com reports. 4,952,799 shares of the stock traded hands, compared to its average volume of 1,204,972. The stock has a market cap of $34.98 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.69 and a beta of 0.89. NetEase has a 12-month low of $264.17 and a 12-month high of $269.29.

A number of hedge funds have recently added to or reduced their stakes in NTES. Banco de Sabadell S.A purchased a new position in NetEase in the 1st quarter worth approximately $100,000. Icon Wealth Partners LLC purchased a new position in NetEase in the 4th quarter worth approximately $176,000. We Are One Seven LLC purchased a new position in NetEase in the 4th quarter worth approximately $203,000. Cibc Bank USA purchased a new position in NetEase in the 4th quarter worth approximately $204,000. Finally, Mariner Wealth Advisors LLC purchased a new position in NetEase in the 4th quarter worth approximately $233,000. 51.55% of the stock is owned by institutional investors and hedge funds.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; Advertising Services; and E-mail, E-commerce and Others segments. It offers PC-client massively multi-player online role-playing games and mobile games; and distributes its point cards to gamers.

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

Analyst Recommendations for NetEase (NASDAQ:NTES)

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