NetEase (NASDAQ:NTES) had its target price boosted by equities research analysts at Nomura from $439.00 to $464.00 in a report issued on Thursday, The Fly reports. Nomura’s price objective indicates a potential upside of 24.65% from the company’s current price.
Several other brokerages also recently weighed in on NTES. Zacks Investment Research downgraded shares of NetEase from a “buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Barclays boosted their price objective on shares of NetEase from $380.00 to $390.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. BidaskClub upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Friday, May 15th. Cfra lifted their target price on shares of NetEase from $380.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Macquarie cut shares of NetEase from an “outperform” rating to a “neutral” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $399.28.
NetEase stock traded down $29.51 during trading on Thursday, reaching $372.25. The stock had a trading volume of 1,243,313 shares, compared to its average volume of 676,720. NetEase has a 52-week low of $209.01 and a 52-week high of $402.07. The business has a 50 day moving average price of $348.68 and a 200 day moving average price of $326.44. The stock has a market cap of $51.41 billion, a PE ratio of 15.31, a P/E/G ratio of 0.63 and a beta of 0.70.
Institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc increased its stake in NetEase by 2.4% in the 1st quarter. CIBC Asset Management Inc now owns 6,372 shares of the technology company’s stock valued at $2,045,000 after buying an additional 151 shares during the period. Jefferies Group LLC acquired a new position in shares of NetEase during the 4th quarter worth $446,000. Macquarie Group Ltd. grew its stake in shares of NetEase by 26.7% during the 4th quarter. Macquarie Group Ltd. now owns 17,394 shares of the technology company’s stock worth $5,334,000 after purchasing an additional 3,663 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of NetEase by 17.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 18,457 shares of the technology company’s stock worth $5,691,000 after purchasing an additional 2,806 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of NetEase during the 4th quarter worth $3,273,000. 47.83% of the stock is currently owned by institutional investors.
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. 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.
Featured Story: Cash Flow
Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.