NetEase (NTES) Raised to Overweight at Barclays

NetEase (NASDAQ:NTES) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Monday, The Fly reports. The firm currently has a $300.00 price target on the technology company’s stock, up from their prior price target of $270.00. Barclays‘s price target points to a potential upside of 22.97% from the stock’s previous close.

Several other research analysts have also commented on the company. Jefferies Financial Group upgraded NetEase from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Morgan Stanley lowered NetEase from an “overweight” rating to an “equal weight” rating and set a $222.49 price target for the company. in a research report on Sunday, December 9th. UBS Group upgraded NetEase from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 19th. Zacks Investment Research lowered NetEase from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Finally, Benchmark dropped their price target on NetEase from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, November 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $286.39.

Shares of NTES stock traded up $0.54 during trading hours on Monday, hitting $243.96. The stock had a trading volume of 231,244 shares, compared to its average volume of 847,592. NetEase has a one year low of $184.60 and a one year high of $343.77. The stock has a market capitalization of $33.94 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 1.43 and a beta of 0.78.

NetEase (NASDAQ:NTES) last issued its earnings results on Wednesday, November 14th. The technology company reported $1.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.10 by ($0.30). NetEase had a return on equity of 12.66% and a net margin of 9.22%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the firm posted $3.43 earnings per share. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. As a group, research analysts forecast that NetEase will post 6.76 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new position in shares of NetEase during the second quarter valued at approximately $108,000. Guinness Asset Management Ltd boosted its position in shares of NetEase by 59.1% during the third quarter. Guinness Asset Management Ltd now owns 861 shares of the technology company’s stock valued at $196,000 after buying an additional 320 shares during the period. Ridgewood Investments LLC purchased a new position in shares of NetEase during the third quarter valued at approximately $314,000. Symmetry Peak Management LLC purchased a new position in shares of NetEase during the third quarter valued at approximately $342,000. Finally, Highstreet Asset Management Inc. boosted its position in shares of NetEase by 57.6% during the third quarter. Highstreet Asset Management Inc. now owns 1,546 shares of the technology company’s stock valued at $353,000 after buying an additional 565 shares during the period. Institutional investors own 45.32% of the company’s stock.

NetEase Company Profile

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

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