NetEase (NASDAQ:NTES) Lowered to “Buy” at StockNews.com

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

Several other research analysts also recently weighed in on NTES. HSBC dropped their target price on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Morgan Stanley cut their target price on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $126.00.

NetEase Price Performance

Shares of NetEase stock traded up $0.64 during trading hours on Monday, hitting $96.63. 1,174,535 shares of the company’s stock traded hands, compared to its average volume of 1,714,481. The stock has a market capitalization of $62.30 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 0.87 and a beta of 0.58. NetEase has a 12-month low of $80.79 and a 12-month high of $118.89. The company has a fifty day simple moving average of $102.05 and a 200-day simple moving average of $102.83.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. On average, analysts forecast that NetEase will post 7.04 EPS for the current fiscal year.

Hedge Funds Weigh In On NetEase

Institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. increased its position in shares of NetEase by 451.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company’s stock valued at $47,647,000 after purchasing an additional 418,677 shares during the last quarter. WT Asset Management Ltd increased its holdings in NetEase by 381.1% in the fourth quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after buying an additional 789,499 shares in the last quarter. FDx Advisors Inc. raised its stake in shares of NetEase by 11.6% during the 3rd quarter. FDx Advisors Inc. now owns 8,352 shares of the technology company’s stock worth $837,000 after buying an additional 871 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in NetEase during the 3rd quarter valued at $12,017,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of NetEase during the third quarter worth about $1,102,000. 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.