NetEase (NASDAQ:NTES – Get Rating) had its price target boosted by investment analysts at UBS Group from $112.00 to $113.00 in a research note issued to investors on Friday, The Fly reports. UBS Group’s price target suggests a potential upside of 31.81% from the stock’s previous close.
NTES has been the subject of a number of other reports. JPMorgan Chase & Co. raised NetEase from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $85.00 to $100.00 in a research report on Tuesday, February 28th. StockNews.com assumed coverage on NetEase in a report on Thursday, May 18th. They set a “buy” rating for the company. Benchmark upped their target price on NetEase from $104.00 to $118.00 in a report on Friday. Finally, Citigroup upped their target price on NetEase from $115.00 to $118.00 in a report on Friday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, NetEase currently has a consensus rating of “Buy” and an average price target of $114.71.
NetEase Stock Up 2.7 %
Shares of NTES opened at $85.73 on Friday. The company has a market capitalization of $56.13 billion, a PE ratio of 18.84 and a beta of 0.50. NetEase has a 12 month low of $53.09 and a 12 month high of $108.77. The stock’s 50-day moving average price is $88.56 and its two-hundred day moving average price is $81.99. The company has a current ratio of 2.32, a quick ratio of 2.30 and a debt-to-equity ratio of 0.03.
Hedge Funds Weigh In On NetEase
Several institutional investors have recently bought and sold shares of NTES. Robeco Institutional Asset Management B.V. purchased a new stake in shares of NetEase during the fourth quarter worth $51,079,000. Arrowstreet Capital Limited Partnership raised its position in NetEase by 90.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,017,159 shares of the technology company’s stock valued at $89,958,000 after purchasing an additional 484,345 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in NetEase by 5.3% during the third quarter. UBS Asset Management Americas Inc. now owns 8,784,849 shares of the technology company’s stock valued at $664,135,000 after purchasing an additional 441,250 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its position in NetEase by 16.5% during the third quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,561,839 shares of the technology company’s stock valued at $193,675,000 after purchasing an additional 362,619 shares in the last quarter. Finally, Genesis Investment Management LLP raised its position in NetEase by 38.9% during the fourth quarter. Genesis Investment Management LLP now owns 1,258,266 shares of the technology company’s stock valued at $91,388,000 after purchasing an additional 352,127 shares in the last quarter. Hedge funds and other institutional investors own 13.50% of the company’s stock.
NetEase Company Profile
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)
- 3 Electrical Gear Makers: Hidden Gems Amid Growing Digitization
- Can ULTA’s Defensive Product Line Stand Against This Down Cycle
- A Reversal Is Brewing For Medtronic: Buying The Dip
- Ralph Lauren’s Styled Dividend Is Still In Season
- Dollar Tree Falls As Theft Cuts Into Bottom Line
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.