NetEase (NASDAQ:NTES – Get Rating) had its price objective lifted by stock analysts at Morgan Stanley from $115.00 to $120.00 in a research report issued on Friday, The Fly reports. Morgan Stanley’s target price indicates a potential upside of 39.97% from the company’s current price.
Other analysts also recently issued reports about the company. Benchmark increased their price target on NetEase from $104.00 to $118.00 in a report on Friday. Citigroup increased their price target on NetEase from $115.00 to $118.00 in a report on Friday. JPMorgan Chase & Co. upgraded NetEase from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $100.00 in a report on Tuesday, February 28th. StockNews.com assumed coverage on NetEase in a research note on Thursday, May 18th. They set a “buy” rating for the company. Finally, UBS Group raised their target price on NetEase from $112.00 to $113.00 in a research note on Friday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $114.71.
NetEase Stock Up 2.7 %
Shares of NASDAQ NTES opened at $85.73 on Friday. NetEase has a 52-week low of $53.09 and a 52-week high of $108.77. The firm has a fifty day moving average of $88.56 and a 200-day moving average of $81.99. The stock has a market capitalization of $56.13 billion, a PE ratio of 18.84 and a beta of 0.50. The company has a quick ratio of 2.30, a current ratio of 2.32 and a debt-to-equity ratio of 0.03.
Institutional Investors Weigh In On NetEase
A number of hedge funds have recently made changes to their positions in NTES. Huntington National Bank raised its holdings in shares of NetEase by 36.7% during the fourth quarter. Huntington National Bank now owns 432 shares of the technology company’s stock valued at $31,000 after buying an additional 116 shares during the last quarter. Mondrian Investment Partners LTD acquired a new position in shares of NetEase during the fourth quarter valued at approximately $39,000. Belpointe Asset Management LLC acquired a new position in shares of NetEase during the fourth quarter valued at approximately $39,000. Pinpoint Asset Management Ltd acquired a new position in shares of NetEase during the first quarter valued at approximately $42,000. Finally, CVA Family Office LLC acquired a new position in shares of NetEase during the fourth quarter valued at approximately $51,000. Institutional investors own 13.50% of the company’s stock.
NetEase, Inc is an internet technology company, which engages in the provision of premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.
- Get a free copy of the StockNews.com research report on NetEase (NTES)
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