NetEase (NTES) Rating Increased to Strong-Buy at BidaskClub

BidaskClub upgraded shares of NetEase (NASDAQ:NTES) from a buy rating to a strong-buy rating in a report issued on Wednesday morning.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of NetEase from a sell rating to a hold rating in a research report on Tuesday, August 14th. Macquarie downgraded shares of NetEase from an outperform rating to a neutral rating in a research report on Thursday, August 9th. JPMorgan Chase & Co. reduced their price target on shares of NetEase from $290.00 to $265.00 and set an overweight rating for the company in a research report on Friday, August 10th. TheStreet upgraded shares of NetEase from a c+ rating to a b rating in a research report on Friday, August 10th. Finally, Barclays reduced their price target on shares of NetEase from $275.00 to $260.00 and set a hold rating for the company in a research report on Thursday, August 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $311.92.

Shares of NTES stock traded down $9.49 during midday trading on Wednesday, reaching $221.91. 1,449,890 shares of the company traded hands, compared to its average volume of 852,262. NetEase has a 1-year low of $184.60 and a 1-year high of $377.64. The company has a market cap of $30.87 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.53 and a beta of 0.96.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Wednesday, August 8th. The technology company reported $2.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.82. NetEase had a net margin of 11.49% and a return on equity of 14.57%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.61 billion. As a group, equities research analysts expect that NetEase will post 7.34 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of NTES. Tower Research Capital LLC TRC purchased a new position in shares of NetEase during the 2nd quarter worth approximately $108,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of NetEase by 96.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 462 shares of the technology company’s stock worth $117,000 after purchasing an additional 227 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of NetEase by 286.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 41,639 shares of the technology company’s stock worth $151,000 after purchasing an additional 30,861 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of NetEase during the 2nd quarter worth approximately $167,000. Finally, Guinness Asset Management Ltd increased its stake in shares of NetEase by 59.1% during the 3rd quarter. Guinness Asset Management Ltd now owns 861 shares of the technology company’s stock worth $196,000 after purchasing an additional 320 shares in the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

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Analyst Recommendations for NetEase (NASDAQ:NTES)

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