NetEase (NASDAQ:NTES – Get Rating) had its price target upped by Benchmark from $104.00 to $118.00 in a research report released on Friday morning, The Fly reports.
A number of other equities analysts also recently commented on NTES. JPMorgan Chase & Co. raised shares of NetEase from a neutral rating to an overweight rating and lifted their price objective for the stock from $85.00 to $100.00 in a report on Tuesday, February 28th. Citigroup boosted their price target on shares of NetEase from $115.00 to $118.00 in a report on Friday. Finally, StockNews.com assumed coverage on shares of NetEase in a report on Thursday, May 18th. They set a buy rating for the company. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $114.71.
NetEase Trading Up 4.4 %
NTES opened at $89.51 on Friday. The company has a quick ratio of 2.30, a current ratio of 2.32 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $88.63 and its 200-day moving average is $82.18. The firm has a market capitalization of $58.61 billion, a P/E ratio of 17.87 and a beta of 0.50. NetEase has a 52-week low of $53.09 and a 52-week high of $108.77.
Institutional Investors Weigh In On NetEase
Large investors have recently added to or reduced their stakes in the stock. Yousif Capital Management LLC lifted its holdings in shares of NetEase by 8.7% during the third quarter. Yousif Capital Management LLC now owns 11,549 shares of the technology company’s stock worth $873,000 after buying an additional 920 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of NetEase by 9.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,628 shares of the technology company’s stock worth $118,000 after buying an additional 138 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of NetEase during the third quarter worth approximately $302,000. CI Investments Inc. lifted its holdings in shares of NetEase by 402.0% during the fourth quarter. CI Investments Inc. now owns 3,057 shares of the technology company’s stock worth $222,000 after buying an additional 2,448 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of NetEase by 21.9% during the fourth quarter. New York State Common Retirement Fund now owns 55,230 shares of the technology company’s stock worth $4,011,000 after buying an additional 9,930 shares during the last quarter. 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.
Further Reading
- Get a free copy of the StockNews.com research report on NetEase (NTES)
- Big Lots Becomes A Stomach Churning Value Play
- The Melt-Up In Marvell Is On; But Don’t Chase It Higher
- Is Apple a Growth Stock or a Value Stock?
- Costco’s Earnings Call Reassure Economists, Recession Cancelled
- Hot Inflation, What It Means For The Summer Rally
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.
