StockNews.com Downgrades NetEase (NASDAQ:NTES) to Buy

NetEase (NASDAQ:NTES) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

A number of other research firms also recently weighed in on NTES. Barclays assumed coverage on shares of NetEase in a research report on Thursday, June 13th. They set an “equal weight” rating and a $104.00 target price for the company. HSBC decreased their price objective on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Benchmark lifted their target price on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $100.00 price target (down previously from $120.00) on shares of NetEase in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $123.00.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $95.58 on Thursday. The firm has a market cap of $61.38 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 1.88 and a beta of 0.52. NetEase has a 52 week low of $81.30 and a 52 week high of $118.89. The firm’s fifty day moving average is $94.92 and its 200-day moving average is $98.46.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, May 23rd. The technology company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.05). NetEase had a return on equity of 24.19% and a net margin of 28.75%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. Sell-side analysts forecast that NetEase will post 6.86 EPS for the current year.

Institutional Investors Weigh In On NetEase

A number of hedge funds have recently added to or reduced their stakes in NTES. Tairen Capital Ltd bought a new stake in NetEase during the 4th quarter worth approximately $164,307,000. Wellington Management Group LLP grew its holdings in NetEase by 226.4% during the fourth quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock worth $176,677,000 after buying an additional 1,315,410 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in NetEase during the first quarter worth $103,658,000. WT Asset Management Ltd raised its position in NetEase by 381.1% in the 4th quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after buying an additional 789,499 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in NetEase by 804.5% during the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after acquiring an additional 704,753 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Company Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.