NetEase (NASDAQ:NTES) Stock Rating Lowered by StockNews.com

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

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

NetEase Trading Up 4.0 %

NASDAQ NTES opened at $96.74 on Thursday. The stock has a 50-day simple moving average of $94.67 and a 200 day simple moving average of $98.55. The company has a market capitalization of $62.12 billion, a PE ratio of 15.00, a P/E/G ratio of 1.81 and a beta of 0.52. NetEase has a 12 month low of $81.30 and a 12 month high of $118.89.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. NetEase had a net margin of 28.75% and a return on equity of 24.19%. As a group, sell-side analysts predict that NetEase will post 6.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NTES. Tairen Capital Ltd acquired a new position in shares of NetEase during the fourth quarter worth about $164,307,000. Wellington Management Group LLP boosted its position in shares of 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 during the period. Price T Rowe Associates Inc. MD acquired a new position in NetEase during the first quarter valued at approximately $103,658,000. WT Asset Management Ltd boosted its position in NetEase by 381.1% during the fourth quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after purchasing an additional 789,499 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in NetEase by 804.5% during the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after purchasing an additional 704,753 shares during the last quarter. 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.