NetEase (NASDAQ:NTES) Stock Rating Upgraded by Zacks Research

NetEase (NASDAQ:NTES) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of NetEase from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Benchmark reiterated a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Citigroup reiterated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Nomura dropped their price objective on shares of NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Barclays dropped their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, NetEase has an average rating of “Moderate Buy” and an average target price of $157.38.

NetEase Price Performance

Shares of NASDAQ NTES opened at $120.73 on Monday. The company has a 50 day simple moving average of $116.27 and a 200 day simple moving average of $124.61. The firm has a market cap of $77.08 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 1.54 and a beta of 0.72. NetEase has a 1 year low of $106.06 and a 1 year high of $159.55.

Institutional Trading of NetEase

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in NetEase during the 1st quarter valued at approximately $25,000. Atlas Capital Advisors Inc. acquired a new stake in shares of NetEase during the 4th quarter worth approximately $47,000. Harbour Investments Inc. grew its position in shares of NetEase by 7,480.0% during the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after buying an additional 374 shares during the period. Smartleaf Asset Management LLC grew its position in shares of NetEase by 3,381.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after buying an additional 372 shares during the period. Finally, MidFirst Bank acquired a new stake in shares of NetEase during the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Company Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.