Morgan Stanley Boosts NetEase (NASDAQ:NTES) Price Target to $117.00

NetEase (NASDAQ:NTES) had its target price raised by Morgan Stanley from $108.00 to $117.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s target price points to a potential upside of 6.49% from the company’s previous close.

NTES has been the topic of a number of other research reports. Benchmark reduced their target price on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Bank of America lifted their price objective on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Citigroup lifted their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

NetEase Stock Up 4.2 %

NASDAQ:NTES traded up $4.38 on Wednesday, reaching $109.87. The company’s stock had a trading volume of 751,479 shares, compared to its average volume of 1,266,198. NetEase has a 12-month low of $75.85 and a 12-month high of $114.50. The firm has a market cap of $70.55 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 3.45 and a beta of 0.58. The stock has a 50 day moving average price of $96.25 and a 200 day moving average price of $88.97.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its stake in NetEase by 81.7% during the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after purchasing an additional 152 shares in the last quarter. Brooklyn Investment Group acquired a new position in NetEase during the 4th quarter worth $34,000. UMB Bank n.a. grew its stake in NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after purchasing an additional 111 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in NetEase during the 3rd quarter worth $45,000. Finally, Live Oak Investment Partners acquired a new position in shares of NetEase during the 4th quarter worth about $62,000. 11.07% of the stock is owned by institutional investors and hedge funds.

About NetEase

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.