NetEase (NASDAQ:NTES) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Saturday.
Several other brokerages have also recently issued reports on NTES. Zacks Investment Research raised shares of NetEase from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 17th. Vetr raised shares of NetEase from a “buy” rating to a “strong-buy” rating and set a $375.44 price target on the stock in a research report on Wednesday, January 10th. Deutsche Bank set a $380.00 price target on shares of NetEase and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Goldman Sachs reissued a “buy” rating and set a $432.00 price target (up previously from $340.00) on shares of NetEase in a research report on Thursday, January 18th. They noted that the move was a valuation call. Finally, BidaskClub cut shares of NetEase from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $334.94.
NASDAQ NTES opened at $266.30 on Friday. NetEase has a 12 month low of $253.20 and a 12 month high of $377.64. The stock has a market capitalization of $36,621.04, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.75 and a beta of 0.87.
Several hedge funds have recently added to or reduced their stakes in NTES. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of NetEase by 117.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after buying an additional 267 shares during the period. Icon Wealth Partners LLC purchased a new stake in shares of NetEase during the fourth quarter worth approximately $176,000. We Are One Seven LLC purchased a new stake in shares of NetEase during the fourth quarter worth approximately $203,000. Cibc Bank USA purchased a new stake in shares of NetEase during the fourth quarter worth approximately $204,000. Finally, Mariner Wealth Advisors LLC purchased a new stake in shares of NetEase during the fourth quarter worth approximately $233,000. Hedge funds and other institutional investors own 51.26% of the company’s stock.
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NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; Advertising Services; and E-mail, E-commerce and Others segments. It offers PC-client massively multi-player online role-playing games and mobile games; and distributes its point cards to gamers.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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