NetEase (NASDAQ:NTES) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm presently has a $363.00 price objective on the technology company’s stock. Vetr‘s target price indicates a potential upside of 13.38% from the stock’s current price.
Other equities analysts have also issued research reports about the company. BidaskClub lowered NetEase from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Jefferies Group lowered NetEase from a “buy” rating to a “hold” rating and cut their price target for the company from $330.00 to $290.00 in a research note on Tuesday, October 3rd. Benchmark cut their price target on NetEase from $360.00 to $340.00 and set a “buy” rating on the stock in a research note on Thursday, November 16th. Deutsche Bank set a $334.00 price target on NetEase and gave the company a “buy” rating in a research note on Thursday, November 16th. Finally, Citigroup reaffirmed a “buy” rating and set a $351.00 price target on shares of NetEase in a research note on Thursday, November 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $348.07.
NetEase (NASDAQ:NTES) opened at $320.16 on Tuesday. NetEase has a one year low of $248.32 and a one year high of $377.64. The stock has a market capitalization of $42,290.00, a price-to-earnings ratio of 20.47, a PEG ratio of 1.67 and a beta of 0.94.
NetEase declared that its board has authorized a stock repurchase plan on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
A number of large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in NetEase by 19.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,156 shares of the technology company’s stock valued at $25,244,000 after buying an additional 11,758 shares during the period. Lyell Wealth Management LP bought a new stake in shares of NetEase in the fourth quarter worth about $1,336,000. KEYWISE CAPITAL MANAGEMENT Ltd bought a new stake in shares of NetEase in the fourth quarter worth about $345,000. Handelsinvest Investeringsforvaltning increased its holdings in shares of NetEase by 27.0% in the fourth quarter. Handelsinvest Investeringsforvaltning now owns 25,716 shares of the technology company’s stock worth $8,874,000 after acquiring an additional 5,467 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc increased its holdings in shares of NetEase by 24.2% in the fourth quarter. Guinness Atkinson Asset Management Inc now owns 10,275 shares of the technology company’s stock worth $3,546,000 after acquiring an additional 2,000 shares in the last quarter. 48.90% of the stock is currently owned by hedge funds and other institutional investors.
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NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
To view Vetr’s full report, visit Vetr’s official website.
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