StockNews.com Initiates Coverage on NetEase (NASDAQ:NTES)

Stock analysts at StockNews.com began coverage on shares of NetEase (NASDAQ:NTES – Get Rating) in a research report issued to clients and investors on Friday. The brokerage set a “buy” rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on NTES. HSBC reduced their price target on NetEase from $122.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 18th. JPMorgan Chase & Co. raised NetEase from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $100.00 in a research report on Tuesday, February 28th. Morgan Stanley upped their price target on NetEase from $85.00 to $95.00 in a research report on Wednesday, December 14th. TheStreet raised NetEase from a “c+” rating to a “b-” rating in a research report on Wednesday, January 18th. Finally, Citigroup increased their price objective on NetEase from $100.00 to $115.00 and gave the company a “buy” rating in a report on Monday, February 27th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NetEase has an average rating of “Buy” and a consensus target price of $112.67.

NetEase Price Performance

Shares of NTES opened at $85.87 on Friday. NetEase has a 52-week low of $53.09 and a 52-week high of $108.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.30 and a current ratio of 2.32. The stock has a 50 day simple moving average of $86.30 and a 200 day simple moving average of $77.28. The firm has a market capitalization of $56.23 billion, a PE ratio of 18.87 and a beta of 0.49.

Institutional Investors Weigh In On NetEase

Several hedge funds have recently added to or reduced their stakes in NTES. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in NetEase during the 1st quarter valued at $1,135,000. Sei Investments Co. lifted its holdings in NetEase by 2.5% during the 1st quarter. Sei Investments Co. now owns 15,901 shares of the technology company’s stock valued at $1,432,000 after purchasing an additional 386 shares during the last quarter. Candriam Luxembourg S.C.A. acquired a new stake in NetEase during the 1st quarter valued at $8,461,000. West Family Investments Inc. acquired a new stake in NetEase during the 1st quarter valued at $266,000. Finally, XTX Topco Ltd acquired a new stake in NetEase during the 1st quarter valued at $246,000. Institutional investors and hedge funds own 13.50% of the company’s stock.

NetEase Company Profile

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NetEase, Inc is an internet technology company, which engages in the provision of premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.