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

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

A number of other brokerages have also recently weighed in on NTES. Citigroup lifted their price target on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Benchmark decreased their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Barclays cut their price objective on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. Jefferies Financial Group decreased their target price on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Bank of America dropped their target price on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Price Performance

NetEase stock opened at $87.48 on Thursday. The company has a market cap of $56.18 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 3.20 and a beta of 0.57. NetEase has a 12 month low of $75.85 and a 12 month high of $114.50. The stock’s 50-day moving average is $85.61 and its 200-day moving average is $88.23.

Institutional Investors Weigh In On NetEase

A number of hedge funds have recently bought and sold shares of NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NetEase by 13,747.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock valued at $585,227,000 after buying an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. increased its position in shares of NetEase by 86.8% in the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock worth $242,092,000 after purchasing an additional 1,203,129 shares during the last quarter. Point72 Hong Kong Ltd raised its stake in shares of NetEase by 109.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after purchasing an additional 632,896 shares in the last quarter. Temasek Holdings Private Ltd acquired a new stake in shares of NetEase in the 3rd quarter valued at about $51,498,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of NetEase by 472.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,000 shares of the technology company’s stock worth $39,087,000 after purchasing an additional 345,000 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.