NetEase (NASDAQ:NTES – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.
Other equities analysts also recently issued reports about the stock. Morgan Stanley restated an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Citigroup restated a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Wall Street Zen upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Finally, Barclays cut their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.38.
NetEase Stock Performance
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in shares of NetEase in the first quarter worth about $25,000. Atlas Capital Advisors Inc. bought a new position in shares of NetEase in the fourth quarter worth about $47,000. Harbour Investments Inc. lifted its holdings in shares of NetEase by 7,480.0% in the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after acquiring an additional 374 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of NetEase by 3,381.8% in the second quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after acquiring an additional 372 shares during the last quarter. Finally, MidFirst Bank bought a new position in shares of NetEase in the fourth quarter worth about $57,000. Institutional investors own 11.07% of the company’s stock.
NetEase Company Profile
NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.
The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.
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